1. In the text it was derived that 6 2 (II, -(IIM / 2) ) /(II,-IIc ) is a necessary and sufficient condition for each firm in a Cournot competing duopoly to produce half the monopoly output level if it faces continual interaction and adopts the following trigger strategy: "Produce half the monopoly output level in the first period, and continue to do so if the other firm has always done so in the past Otherwise produce the Cournot-Nash output level". Find S if P=65- Qwhere Q is the joint output of the firms, each firm has constant marginal cost of 5 and there are no fixed costs. 2. Why is the theory of limit pricing considered to be non-rational? Explain