Can you please solve these will excel formulas and send answers.

Use a cell reference or a single formula where appropriate in order to receive full credit. Do not copy and paste values or type values, as you will not receive full credit for your answers. The inverse market demand curve for a duopoly market is p = 14 - 9 =14 - q1 - q2, where Q is the market output, and qi and q2 are the outputs of Firms 1 and 2 respectively. Each firm has a constant marginal cost of 2 and a fixed cost of 4. Consequently, the Nash-Cournot best-response curve for Firm 1 is q1 = 6 - q2/2. The best-response curve for Firm 2 is q2 = 6 - q1/2, which can be written as q1 = 12 - 2q2. P 14 Q = 14 91-q2 q1 6 92/ 2 6 q1/ 2 MC = 2 FC a) Calculate the output (BR2) and the profit for Firm 2, the total output, and the price for q 1 = 0, 2, ..., 12. BR2 Q P Profitz 0 3 1011 12 Use the scatterplot option to draw the best-response curve for Firm 2. b) Calculate the output (best response) for Firm 1 for 9 2 = 0, 2, ..., 12. Best Response of Firm 1 2 BRI 0 1 W N 49 10 11 12 Use the scatterplot option to draw the best-response curves for Firm 1 and Firm 2. What is the Nash-Cournot equilibrium price, quantity (for each firm), and profit (for each firm)? The equilibrium price is when the output of Firm 1 is and the output of Firm 2 is . The profit of Firm 1 under equilibrium is and the profit of Firm 2 is