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Two firms compete in a market to sell a homogeneous product with inverse demand function p = 600 – 3q. each firm produces at a constant marginal cost of $300 and has no fixed costs. use this information to compare the output levels and profits in settings characterized by cournot, stackelberg, bertrand, and collusive behavior. instruction: do not round intermediate calculations. round final answers to two decimal places for cournot values. cournot output for each firm: cournot profits for each firm: $ stackelberg leader output: stackelberg follower output: stackelberg leader profits: $ stackelberg follower profits: $ bertrand market-level output: bertrand profits for each firm: $ collusive market-level output: collusive industry-level profits: $
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