C.6 VisiCalc: the first computer spreadsheet program: was released to the public in 1979. A year later, mtroduction of the DIF format made spreadsheets much more popular because they could now be imported into word processmg and other software programs. By 1983: Mitch Kapor used his previous prograrnrmng experience with VisiCalc to found Lotus Corp. and introduce the wildly popular Lotus 1-2-3 spreadsheet program. Despite enormous initial success: Lotus 1-2-3 stumbled \vhen Microsoft Corp. introduced Excel with a much more user-friendly graphical interface in 1987. Today, Excel dominates the market for spreadsheet applications software. To illustrate the competitioe process in market dominated by few firms, assume that a t',vo-firm duopoly dominates the market for spreadsheet application software: and that the firms Hce a linear market demand curve Wllere P is price and Q is total output in the market (in thousands). Thus Q = QA + QE For simplicity: also assume that both firms produce an identical product and have no fixed costs and margmal cost MCA = MCE = SSO_ In this circumstance: total revenue for firm A is QA2-QAQE Marginal revenue for firm A is Similar total revenue and marginal revenue curves hold for firm B. (10 points) 6.1 Derive the output-reaction curves for firms A and B. 6.2 Calculate the Coumot market equilibrium price-output solutions.