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Any help on these first two questions would be greatly appreciated. 6. [22] Suppose that demand for Zoom bookshelves (these are collections of books that

Any help on these first two questions would be greatly appreciated.

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6. [22] Suppose that demand for \"Zoom bookshelves" (these are collections of books that make the user appear well-read and knowledgeable) is given by Q = 280 p. There are only two firms that produce this coveted product, they both have cost function C] (61;) = 4qj, where j = 1,2 denotes the identity of each firm, respectively. Total production of \"Zoom bookshelves\" is equal to the output of the two firms. a. [12] Suppose that the firms compete on quantities and that firm 1 enters the market first. i. [4] Find the Nash equilibrium output of each firm. ii. [4] Explain why these output choices are a Nash equilibrium

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