Question One (10 marks) Two farmers, the only two producers, are operating in a Cournot duopoly market for crocodiles. The two firms are called: 'Elcroc Inc.' and \"Sharp Croc Teeth Inc.', denoted respectively by subscripts and s. Qtotal = &]?E + a'."\\:{ These two firms are facing a demand function equal to Qp = 800 - 0.5P These two firms have different total cost functions, as shown below, because each plant is slightly different. TCr =40 + 2qF TCs =15+ 2gs a) Calculate the marginal revenue and marginal cost functions for each firm. (3 marks) b) Calculate how much each firm should be producing to maximise profits. (3 marks) c) Calculate the price at which the firms are maximising profits. (2 marks) d) Suppose the two firm's merge, becoming a monopoly provide of crocodiles. Also assume that Elcroc adopts Sharp Croc Teeth's more efficient production process with