Question 1 10 pts Firm A and Firm B are the only two firms in a market where price is determined by the inverse demand f

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Question 1 10 Pts Firm A And Firm B Are The Only Two Firms In A Market Where Price Is Determined By The Inverse Demand F 1 (41.07 KiB) Viewed 13 times

Question 1 10 pts Firm A and Firm B are the only two firms in a market where price is determined by the inverse demand function: P = 126 - Q. Q is the sum of Firm A and Firm B's output, so Q = QA + qB Firm A's total cost function is given by TCA(9A) = 99A Firm B's total cost function is given by TCB(9B) = 4qB If these firms Cournot compete (simultaneously setting quantities), what will market output be when both firms are maximizing profits in equilibrium? (Note: The answer may not be a whole number, so round to the nearest hundredth) (Note: The numbers may change between questions, so read carefully)