What are their respective output levels q1 and q2

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Reference no: EM131248994

Asymmetric duopoly: The demand curve for a certain product is

Two firms operate as a duopoly in this market. Firm 1 has constant marginal cost m1 = 2 and firm 2 has constant marginal cost m² = 3.

If the firms operate as a Cournot equilibrium (each firm maximizing profit while assuming the other firm's output is fixed), what are their respective output levels q₁ and q₂?

Reference no: EM131248994

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