Two firms are competing in the same market. The market deman…

Two firms are competing in the same market. The market demand is given by P=150−Q, where Q is the total quantity produced by both firms. Each firm’s marginal cost is MC=50. Find the Cournot-Nash equilibrium quantities produced by each firm. (3 points) Calculate the market price in equilibrium. (1 point) PLEASE SHOW ALL WORK FOR FULL CREDIT AND USE THE TEXT BOX PROVIDED