Consider the market demand curve as: (5) P = 600 1.5Q The cost function of a firm is: C(q) = 13537.5 + 30q + 1.5 q2 6 (a) What is the monopoly output and price? If the firm produces this level of output, what will be its total revenue, total cost, and profit? (b) What is the Cournot output, price, and profit if there are two identical firms? (C) Iffirms operate in the Bertrand duopoly, what will be the Nash Equilibrium and the profit? (d) Graph the demand curve and indicate your results from parts a-c on the curve. (e) Iffirms operate in a Stackelberg duopoly and Firm 1 sets its output first and then Firm 2 sets its output, what will firms output and profit be given the marginal cost to produce the good is constant at $192 for each firm under the market demand. Consider the market demand curve as: (5) P = 600 1.5Q The cost function of a firm is: C(q) = 13537.5 + 30q + 1.5 q2 6 (a) What is the monopoly output and price? If the firm produces this level of output, what will be its total revenue, total cost, and profit? (b) What is the Cournot output, price, and profit if there are two identical firms? (C) Iffirms operate in the Bertrand duopoly, what will be the Nash Equilibrium and the profit? (d) Graph the demand curve and indicate your results from parts a-c on the curve. (e) Iffirms operate in a Stackelberg duopoly and Firm 1 sets its output first and then Firm 2 sets its output, what will firms output and profit be given the marginal cost to produce the good is constant at $192 for each firm under the market demand