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1. [15] Suppose that demand for noise-cancelling headphones is given by Q = 240 p. There are only two firms that produce this coveted product, they both have cost function 61-01;) = 80 + gr 1-2, where j = 1,2 denotes the identity of each rm, respectively. Total production of noise-cancelling headphones is equal to the output of the two rms. a. [10] Suppose the two firms compete on quantities. Find the Nash equilibrium price and the output of each rm. How much prot does each firm make? b. [5] Rewrite the cost function of one of the firms such that best responses of the two rms are no longer symmetric. Explain how this will affect their relative output levels