Question: Please answer all 3 parts! Part 1 answer options: 10, 8, 5, 4, 20 Part 2 answer options: 10, 8, 5, 4, 20 Part 3

Please answer all 3 parts! Part 1 answer options: 10, 8, 5,

Please answer all 3 parts!

Part 1 answer options: 10, 8, 5, 4, 20

Part 2 answer options: 10, 8, 5, 4, 20

Part 3 answer options: 10, 8, 5, 4, 20

Two firms are competing on a market with demand P=473Q by simultaneously choosing how much to produce Firm 1 has a marginal cost of 5 While firm 2 has a marginal cost of 8 How much does firm 1 produce in equilibrium? Q1C= How much does firm 2 produce in equilibrium? Q2C= What is the equilibrium market price? PC=

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