Each firm sells its differentiated product in the market, and the demand for each firm's brand is identical, and as follows: P=100q Each firm draws its marginal cost (c) randomly from the great urn(!) after paying a fixed cost to \"play.\" In other words, rms are not identical. They differ by the luck of the draw. Suppose a particular firm (Feldman Pilsner co.) draws this marginal cost: c = 30 What is Feldman's optimal level of output, and what price would it charge? How large is its \"markup\" and total prot? Make sure to diagram the situation on the left. How would these numbers change if Feldman had drawn a higher (or lower) marginal cost from the urn? Sketch out the relationship between c and 11: in the second diagram. MT 1: n Ef Suppose now that Feldman can also sell in a foreign market where the demand for his Pilsner beer is the same as in the home market. The transport cost to sell abroad is t = 20. Would Feldman be able to sell in the foreign market? If so, what is its level of output, price charged, markup, and total profit from exports? Why might the authorities in the foreign country label Feldman as \"dumping\" in their market? Is the set of Homefirms (like Feldman) that sell in both markets a random draw from the pool of Home firms? In other words, does the \"average\" Home firm that sells in EQ_Lcigg look just like the \"average\" Home firm that sells in the Home market