Consider the following duopoly. Demand is given by 

P = 10- Q, where Q = Q₁ + Q₂

The firm's cost functions are : 

C₁ ( Q₁) = 4 + 2Q₁ and C₂ (Q₂) = 3 + 3Q₂

What is each firm's equilibrium output and profit ,if they behave non-co-operatively ? (150 words) (15 Marks)