Question: Problem 3 (Required, 35 marks) Four companies (Firm 1, 2, 3 and 4) are producing a product for the market. Each company will decide the

Problem 3 (Required, 35 marks) Four companies (Firm 1, 2, 3 and 4) are producing a product for the market. Each company will decide the number of products produced. You are given that Each firm can choose its g;. Given the quantites produced by four companies (denoted by g1, g2, g3, 94 respectively), the market price of the productis P = 400 g, g2 g3 qa. Cost of producing one product is 20 (*Note: So the total cost for producing g; units of product is 20gq;. Firm 1 and Firm 2 will first decide the quantities produced simultaneously at the beginning. After knowing g, and g, Firm 3 and Firm 4 will decide the quantities produced simultaneously. (a) State the strategic profiles of each firm. (b) Find all possible subgame perfect equilibrium for this games. Provide full justification to your

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