9. best response bidding Return to the first case in Example 10.8. Assume = 0 and

9. best response bidding Return to the first case in Example 10.8. Assume α = 0 and the second firm is bidding according to the noted strategy. Suppose the first firm observes y = 0.6. Determine its expected profit if it bids

(i) 14, (ii) 14.4 or (iii) 14.8.