Assume that the first and second firms select their production levels at the same time. How much production will each firm produce in equilibrium? How much money would each company make? What exactly is a consumer surplus?

Consider a market served by two firms. Demand in the market is given by P=96-2(91+92) where q and q2 refer to the output levels of firms 1 and 2, respectively. Cost functions for the two firms are given by TC, =1291 and TC2 2492 . Suppose firm 1 and firm 2 chooses their output levels simultaneously. How much output will each firm produce in equilibrium? How much profit will each firm make? What is the consumer surplus? Suppose firm 1 chooses its output level first, then firm 2 chooses its output level. How much output will each firm produce in equilibrium? How much profit will each firm make? What is the consumer surplus? Suppose firm 1 wants to drive firm 2 out of the market. How much output should firm 1 produce? How much profit does firm 1 make producing this output level