5. Graph the reaction functions and find the Nash equilibria for the following games:

Bertrand competition with two companies and constant and equal marginal costs.

Consider that two companies are investigating to develop a new technology that will revolutionize the market. In this economy there are no patents, so if one company develops the technology, the other can use it at no cost. The cost of developing the new technology is c and each firm has a reserve price for the investigation of ri, such that ri