Question: Part 1 (2 points) Feedback See Hint There are only two producers of Bumblebee Bandanas in the world, firm 1 and firm 2. Suppose that

Part 1 (2 points) Feedback See Hint There are only two producers of Bumblebee Bandanas in the world, firm 1 and firm 2. Suppose that inverse demand for this product is given by the function p = 188.00 - 7Q, where p is the per-unit price, q, is the output for firm i (either firm 1 or 2), and Q = q1 + 92. Firm 1 is the Stackelberg follower in this industry and has a constant marginal cost of $6 per unit, while the leader (firm 2) has a constant marginal cost of $3 per unit. Assume no fixed costs. What is firm 1's reaction function? Give your answer to one decimal. Firm 1's reaction function: q1 = * 1 0.5 92

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