AlphaMart sells groceries at the west end of Main Street, a street that is one kilometre long. AlphaMart competes with BetaMarket, which is located at the east end of the street. AlphaMart and BetaMarket sell groceries that are identical in every respect, apart from the locations of the two stores. The marginal cost of an item of groceries is $3 to both retailers. Main Street is home to 200 consumers; the consumers are evenly spaced along the street. Each consumer demands one item of groceries, and faces a travel cost of $12 per kilometre. What are the profit functions of the two firms? Hint: Keep a record of your answer for use in later questions. IIA IIB = 200 x = 200 IIA = 200 IIA = 200 x IIA IIB = 200 = 200 PAPB + P2-15PA +3PB + 36 24 PAPB + P - 15PB + 3PA +36 24 PAPBP+12PA 24 PAPB+P-12PA 24 and IIB 200 and and IIB = 200 PAPBP+15PA - 3PB - 36 24 PAPB - P +15PB - 3PA - 36 24 and PAPBP+12PB 24 PAPB + P-12PB 24