Question: Please answer the following: 3. Two IlIlS faces the demand function p = 100 {9'1 + 12) and produces identical outputs. Each rm faces cost

Please answer the following:

3. Two IlIlS faces the demand function p = 100 {9'1 + 12) and produces identical outputs. Each rm faces cost functions 01 = mg, and 02 = 3qg. Find the prot-maximizing price, quantities and prots for each rm. Draw the best response function. [10 marks]

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