Hotelling Linear City Model with Free Entry Q3. Consumers' preferences are uniformly distributed on the unit interval. Firms enter sequentially, and their costs of entry are sunk. Prices are fixed such that (p- c) 1. 1 and f 1/8. Find the free entry number and location of firms. (a) Suppose that M = (b) Suppose that M = 2 and f 1/8. Find the free entry number and location of firms. = 1 and f = 1/4. Find the free entry number and location of firms (c) Suppose that M (d) For each part (a) to (c) find the critical value for k (assuming linear transportation costs) that are too few or too many brands determines if there Show your calculations in details! Hotelling Linear City Model with Free Entry Q3. Consumers' preferences are uniformly distributed on the unit interval. Firms enter sequentially, and their costs of entry are sunk. Prices are fixed such that (p- c) 1. 1 and f 1/8. Find the free entry number and location of firms. (a) Suppose that M = (b) Suppose that M = 2 and f 1/8. Find the free entry number and location of firms. = 1 and f = 1/4. Find the free entry number and location of firms (c) Suppose that M (d) For each part (a) to (c) find the critical value for k (assuming linear transportation costs) that are too few or too many brands determines if there Show your calculations in details