Please solve this in the EASIEST way possible. The answer to A should be q1=25-q2/4 The answer to B should be q2=90/4-q1/4The answer to C should be 17.33 The answer to E should be 854.29 for Firm 1 & 600.83 for Firm 2 The answer to F should be q1*= 22.14 & q2*= 16.96 The answer to G should be 858.15 for firm 1 and 575.62 for Firm 2 Please be as detailed and thorough with your answers!

Problem 4 Suppose two firms compete by choosing output levels simultaneously. If Firm 1 produces q, units and firm 2 produces q2 units then total quantity supplied is Q = q1 + 92. The market price depends on the total output, Q. The firms' total cost functions are: C1 (91) = 97 (for Firm 1) C2 (92) = 10q2 + 92 (for Firm 2) The market inverse demand function is: p(Q) = 100 - Q A) Given q2, what is Firm I's profit maximizing level of q,? (i.e., what is Firm 1's 'best response' function? This function tells Firm 1 the level of q, that maximizes its profits for each value of q2?). B) Given q1, what is Firm 2's profit maximizing level of qz? C) Solve for the equilibrium values of q1 and qz- D) Graph the best response functions of firms 1 and 2 on the same graph and find the equilibrium point. E) Compute the market equilibrium price and the equilibrium profit for each firm. F) Suppose instead of acting simultaneously, that firm 1 is a leader in the industry who makes its output level publicly known before firm 2 makes its output decision. For this case, solve for the equilibrium values of q, and q2. G) Compute the market equilibrium price and the equilibrium profit for each firm