ASAP

2. (30 points) Recall the restaurant example we did in class. The demand functions for the meals in restaurants X and Y are as follows: Q. -44-2P. + P. Q, -44-2P, . P. As before, the profits of each restaurant depend on the costs of serving each customer. Suppose that Restaurant X is now able to reduce the cost of serving one customer to $2, while it is still $8 for restaurant Y. condition (FOC). (a) Calculate the best-response rules and the Nash eam prices for each restaurant. State the first-order (b) Graph the best-response curves