Firm 1 and rm 2 produce the same good for a market according to Bertrand's model of price competition. They set prices p1 and p2, respectively. The rm that offers the lower price captures the entire market. If they charge the same price, then they share the market equally. Assume that market demand is determined by the function y = 50 p. Each rm faces the same cost function C (y) = 10y, implying a constant per-unit cost of $10. a For a eneric xed rice level > 10 char ed b rm 2, com ute rm 1's rots g P F; g Y P P \"1(191) as a function of the price p] set by rm 1. Sketch the graph of this profit function schematically. Is there any point at which the prot function is discontin- uous? (b) In equilibrium, what price will each rm charge? How many units will each rm sell