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Demand: P = 500 - 20g MC - ATC = 100 Suppose there are two firms. Firm 1 and Firm 2. and each firm produces output Q, and Q2, respectively, and they are identical products. Both firms have identical cost. If Firm 1 is the output leader, its profit is equal to Firm 2, the output follower, earns a profit that is equal to 0 a. $22,500; $11,250 O b. $20,000. 510,000 O c. $40.000; $20.000 Q d. $10,000; $5,000 Clear my cholos If Firm 1 were the only firm in the industry, the maximum output level that Firm 1 will ever produce is equal to 0 6. 400 De 200 D d 100