1. [15] Suppose that demand for noise-cancelling headphones is given by ? = 240 - ? There are only two firms that produce this coveted product, they both have cost function C(? ) = 80+? , where ? = 1,2 denotes the identity of each firm, respectively. Total production of noise-cancelling headphones is equal to the output of the two firms. a. [10] Suppose the two firms compete on quantities. Find the Nash equilibrium price and the output of each firm. How much profit does each firm make? b. [5] Rewrite the cost function of one of the firms such that best responses of the two firms are no longer symmetric. Explain how this will affect their relative output levels