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27 logging firms use a forest to collect timber. Each firm / must choose how many trees to cut, 9,. The benefit of cutting a tree is 1000- 5 G per tree, where G is the total quantity of trees cut in the forest. The marginal cost of cutting a tree is 20. Firms do not face any fixed costs. In a Nash Equilibrium (choose all that apply), Firm 1 cuts 10 trees Firm 2 cuts 7 trees All firms cut the same number of trees The total supply of trees is equal to 196 QUESTION 8 3 logging firms use a forest to collect timber. Each firm / must choose how many trees to cut, 9, The benefit of cutting a tree is 1000 - 100G per tree, where @ is the total quantity of trees cut in the forest. The marginal cost of cutting a tree is 50. Firms do not face any fixed costs. The social optimum solves: max , (1000 -1000)g, - 50g, max c(1000 - 1000)C -50 max,, (1000 - 1000)g, max , (1000- 1000) -50g