1. A government firm $1. the k offers an exclusive license to a form to sell its good the license costs. The firm rent's capital le in competitive market at rate X=250 and hives labor I in a competitive market at wage $1 to produce the output & using technology given by production function 7 = K 1/6 L 113. 10) Demand for a product B3 given by Dip) = 5-p (Demand function) Solve for the phire and quantity in this market 16) The goverment grants a license to a second firm This firm has the access to the same technology as the first firm. The second firm must rent capital and hire labor from the same maket If these two firms compete as Cournot firms, what's the Nash equilibriu pace and total output in this market? (0) Suppose the government esues an unlimited number of liceuses each costing $11. The firms that purchase the operating license compete as Cournot finns How much revenue will the goverhnout caur from Iceuse.