prices which are integer numbers, and they cannot price above $40. Answer the following: a) If Firm 1 chooses p1=28, Firm 2's best response is to set what price? b) If Firm 2 chooses the price determined in the previous question, Firm 1 's best response is to choose what price? c) If Firm 1 chooses p1=7, Firm 2's best response is a range of prices. What is the lowest price in this range? price. Once that firm's supply is exhausted, consumers will buy from the firm charging the higher price until that firm's supply is exhausted. What is 1 's equilibrium profit? prices which are integer numbers, and they cannot price above $40. Answer the following: a) If Firm 1 chooses p1=28, Firm 2's best response is to set what price? b) If Firm 2 chooses the price determined in the previous question, Firm 1 's best response is to choose what price? c) If Firm 1 chooses p1=7, Firm 2's best response is a range of prices. What is the lowest price in this range? price. Once that firm's supply is exhausted, consumers will buy from the firm charging the higher price until that firm's supply is exhausted. What is 1 's equilibrium profit