Price Leadership. Streaming television is the digital distribution of television content, such as TV shows, as streaming media delivered over the Internet. The use of streaming online video and streaming television is concentrated on streaming video-on-demand platforms such as Netflix, Amazon Prime Video, and Hulu. Netflix is a dominant price-leading firm in the television streaming market. Amazon Prime Video and Hulu are streaming competitors. Total and marginal cost relations for each streaming service are presented below. All costs are measure in billions of dollars. The quantity demanded and supplied is measured in millions of streaming customers. The price of streaming is measure in dollars. Amazon Prime Video: Follower TCA = 12 - 61QA + 0.25QA2 MCA = STCA/6QA = - 61 + 0.5QA Hulu: Follower TCH = 10 - 4QH + 0.25QH2 MCH = STCH/SQH= - 4 + 0.5QH Netflix: Leader TON = 18 - 40N + 0.035ON2 MCN = STON/SQN = - 4 + 0.07QN Total Market Demand Curve QT = 3,930 - 196P 1. Assume that Amazon Prime Video and Hulu are price takers, i.e., P = MC. Determine the inverse and ordinary supply curves for Amazon Prime Video and Hulu. PA = f(QA) = QA = f(PA) = PH = f(QH) = QH = ((PH) = 2. What are the demand curves ordinary and inverse faced by Netflix (the leader)? [Hint: ON = QT - QA - QH] and [P = PN = PA=PH] QN = ((PN) = PN = f(QN) = 3. Calculate Netflix profit-maximizing price and output levels. Round quantity to a whole number and price to two decimal places. [Hint: MRN =MCNI QN = PN= 4. Calculate the profit-maximizing output levels for Amazon Prime Video and Hulu. Round quantity to a whole number. [Hint: PN = PA=PH] QA = QH=