4. Currently the only two companies in the world that are producing commercial jet airliners on a significant scale are The Boeing Company and Airbus SAS, creating a duopoly in the market. Using the Cournot model, where the firms choose their respective levels of production independently and at same time, and using the respective reaction curves below, answer the following questions: Boeing's Reaction Curve: Q-Boeing-800- 0.4*(Q-Airbus) Airbus's Reaction Curve: Q-Airbus = 1200 - 0.5*(Q-Boeing) a. Draw the reaction curves of both companies on the same graph. b. If Boeing expects that Airbus will produce 800 jets, what quantity should Boeing produce in order to maximize their profits? Label this point on your graph from part a. C. What quantity should Airbus produce if they were to operate as a monopoly? d. What is the Nash equilibrium in this industry? Explain what this means and why this particular point is a Nash equilibrium. Label this point on your graph from part a.3. Consider Company X that sells 3 products to 3 customers. The maximum willingness to pay for each product by each customer is shown below. Product A Product B Product C Customer A $10 $33 $82 Customer B $9 $35 $100 Customer C $12 $28 $75 a. If the company was to sell the products separately, what price should they charge for each product? b. If the company was to bundle the products, what price should they charge for the bundle? c. Do you recommend that the company sells the products separately or as a bundle? Explain