DuopolyLOADING... quantity-setting firms face the market demand pequals90minusQ. Each firm has a marginal costLOADING... of $60 per unit. What is the Cournot equilibriumLOADING...? The Cournot equilibrium quantities for Firm 1 (q 1) and Firm 2 (q 2) are q 1equals nothing units and q 2equals nothing units. (Enter numeric responses using real numbers rounded to two decimal places.)

Martha is one producer in the perfectly competitive jelly industry. last year, martha and all of her competitors found themselves earning economic profits. if there is free entry and exit, what do you expect to happen to the number of suppliers in the industry and the price of jelly? the number of suppliers will increase, and the price of jelly will fall. the number of suppliers will decrease, and the price of jelly will increase. the number of suppliers will increase, and the price of jelly will increase. the number of suppliers will decrease, and the price of jelly will fall.