Question: a.(4 pts) Suppose the game is played simultaneously. Present the game in the normal form, using the table below and expressing payoffs in TOTAL PROFIT

a.(4 pts) Suppose the game is played simultaneously. Present the game in the normal form, using the table below and expressing payoffs in TOTAL PROFIT amounts. (Hint: Consider, for example, the case when Firm I produces 5 min units and firm 2 produces 10 min units. The total industry output is 15 million. According to the demand equation, the market price will be P= 27-15 = $12 (remember these are thousands dollars). The profit margin is then (P-AC) = 12-6 = $6 (thousand) per battery. Finally, the profits of the two firms are 6.5=$30 billion and 6-10=$60 billion, respectively... and so on.)

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