1. Consider a Cournot duopoly operating in a market with inverse demand P(Q) = a @, where Q = q; + o is the aggregate quantity on the market. Both firms have total costs ;(;) = cg;, but demand is uncertain: it is high (a = ay) with probability 6 and low (@ = ay) with probability 1 #. Furthermore, information is asymmetric: firm 1 knows whether demand is high or low, but firm 2 does not. The two firms simultaneously choose quantities. What are the strategy spaces for the two firms? What is the Bayesian Nash equilibrium of this game (assuming ay, ar, 6 and are such that all equilibrium quantities are positive)