Now suppose firm 1's cost structure has changed. Firm 1 bought new equipment that decreased its marginal cost to 27. However, firm 1 incurred a fixed cost of 16 in the process. Firm 1's new objective is to maximize O-Q .q,+451 .91 - 16~ O-Q.91 - Q.92+434. 91+434.92-16 O-Q2+451 . Q-16 Mark 5.00 out of 5.00 The correct answer is: - Q . q, + 451 . q, - 16 The outcome of Nash equilibrium of the competitive market will have 91 = 1 X, and q2 = X The equilibrium price P= X and the profits of the firms are T1 = X and T2 = X The consumer surplus will be CS= X The total producer surplus will be PS= X