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3 The market demand for a product is given by Qd=22P. Firm 1, the incumbent firm, and Firm 2 (potential entrant) face the following cost

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3 The market demand for a product is given by Qd=22P. Firm 1, the incumbent firm, and Firm 2 (potential entrant) face the following cost structures: C1=20+Q1. and C2=32+2Q2. Sketch the analysis to be used to determine the maximum price that Firm 1can charge to deter entry by Firm 2. Please state your assumptions. P Q Fill out the following table

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