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Exercise 4 Suppose the jetski market is characterized by Stackelberg competition with two firms. The market inverse demand curve is p(y) = 10,00050y, where y is the total market output produced by Kawasaki and Yamaha. Suppose that the marginal cost for both firms is constant at $1,000. 1. If Yamaha is the first-mover, what is each firm's quantity and profit? 2. What is the equilibrium price? 3. Suppose Bombardier now enters the market, so there are three firms entering sequentially. It also has the same cost function. How much does each firm produce? 4, Is Kawasaki better or worse off now that Bombardier has entered