Any thoughts on how to set this up?

The market for generic "gadgets" can be represented by the following demand curve:

Q = 20,000 - 10P (where Q is the quantity demanded per year, and P is the price ($) per gadget).

There are two producers of gadgets: Acme Corp., and Standard Gadgets.The buyers of gadgets consider the products of the two companies to be identical.The only thing that determines whether a buyer buys a gadget from one company or the other is who has the lowest price. (In the event of identical prices, a customer typically flips a coin.).Acme has fixed costs of $300,000 and marginal costs of $100 per gadget; Standard has fixed costs of $250,000 and marginal costs of $100 per gadget.

. The CEO of Acme has approached you for advice as to how to improve Acme's profit performance, as compared with the outcome in a) above.Briefly outline your recommendations and your reasons for them.