pls. answer 1 to 5, with complete solutions.

You were hired by Orient - The Original Buko Pie Bakeshop in Los Banos to help them in their business strategy decisions concerning their flagship product, buko pie. Apply what you learned from Microeconomics to give advice to your new bosses. Two firms dominate the buko pie market in Los Banos: Orient-The Original Buko Pie and Lety's Buko Pie. Other firms that offer buko pie are believed to not have enough influence in the market because of their very small combined market share. Hence, for Orient's business strategy, they would like to focus on Lety's as their main competitor. Defend your answer with the necessary computations. Keep your answers organized and logical. Put the 'given" information first before solving. Use two decimal places when rounding off (100 pts). Kaya n'yo to! Both firms have the following cost functions: C(q) = 30q + 1.5q2 And the market demand for buko pie in Los Banos is represented by the following equation: P = 300 - 3Q where Q = qorient + qletys Questions from your bosses in Orient are as follows. They need the answers after an hour and half. 1) Mr. Ludwig: What if we take the output of Lety's as given? How many boxes of buko pie should we produce? What will be our profit? How many boxes of buko pie will Lety's produce and what will be their profit? How much should we sell each box of buko pie in the market? (25 pts) 2) Ms. Jamie: Hypothetically... Hypothetically only.. If we could somehow discuss with Lety's, how do you think the discussion will go in terms of the number of boxes of buko pie that we will be producing? For how much should we sell each box in the market? How much profit would we earn? What about Lety's: how many will they sell? How much profit will they earn? (25 pts) 3) Ms. Isabel: Can you come up with a payoff matrix comparing the profits that will be earned by Orient and Lety's if we choose to do what Ludwig said versus what Jamie is suggesting? Although, the discussion with Lety's, it's just hypothetical, of course! (10 pts) 4) Ms. Macyl: Given the matrix, what would you recommend we do? Do we go with the suggestion of Ludwig or of Jamie? Why? Can you discuss each scenario in the matrix? Any risks? (15 pts) 5) Mr. Andrey: For the upcoming Banamos Festival, why don't we open our store earlier than Lety's, say, 3:30 am? I'm sure there will be a lot of last-minute preparations from the performers, organizers, and early bird tourists. If we are open, we can capture that market. If we do this, set our output before Lety's, how many should we produce that day? How much should we sell each one for? What will be our profit? What would be the output and profit of Lety's? Would it be a good strategy for us? Why or why not? (25 pts)