Problem
Zack and Andon compete in the peanut market. Zack is very efficient at producing nuts, with a low marginal cost cZ = 1; Andon, however, has a constant marginal cost cA = 10. If the market demand for nuts is P = 100 - Q, find the Cournot equilibrium price and the quantity and profit level for each competitor.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.