Question: Will you please help me solve these economics problems so I can gain a better understanding of the concepts and teach myself how to solve
Will you please help me solve these economics problems so I can gain a better understanding of the concepts and teach myself how to solve them?

#1 ASSIGNMENT 5 -ECON 1. Consider the following markets for perfect complements. The demand for both firm 1 and for firm 2 is given by the demand function Q = 1 - P, where P = p1 + p2. Both firms' costs are normalized to zero (so, profit is equal to revenue). (a) Suppose that both firms simultaneously set prices to maximize their respective profit. Find the Nash equilibrium. (b) Suppose now that the game is changed to a sequential move game: First, Firm 1 sets its price and then firm 2 sets its price. Find the subgame-perfect equilibrium and the equilibrium prices of the two firms. Depending on your result, explain why Firm 1 sets a higher or lower price than in (a). (c) Construct a Nash equilibrium (that is not subgame perfect) in which the total price (i.e., pi + p2) is 0.6. As always, make sure that you describe the behavior of firm 2 in all possible subgames. So, for example, if p1 = 0.2 and p2 = 0.3, then Firm 1 has a demand of 0.5 (and thus a revenue of 0.1), and Firm 2 also has a demand of 1/2 (and thus a revenue of 0.15)
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