1a. Suppose jumbo packs of notepads are sold in a perfectly competitive market for 40. To produce jumbo packs of notepads, an individual firm has a costfunction of C = 2 + 2Q2. What is the firm's profit?Multiple Choice1981451021401b. Use following screenshot to answer 1b

Firm A Firm B Low Price High Price Low Price (10,9) (15, 8) High Price (-10, 7) (11, 11) Which of the following is true? Multiple Choice A dominant strategy for firm A is "high price." O There does not exist a dominant strategy for firm A. O A dominant strategy for firm B is "low price." None of the answers is correct