Question 1. Consider the market for All Terrain Vehicles (ATVs) in Yuma. There are two major producers, Road Dog and Nature Boy. The demand for ATVs is characterized by the following equation: P=3100RN, where R and N represent the number of ATVs produced in a year by Road Dog and Nature Boy, respectively. The two companies have different cost structures. Road Dog has a marginal cost equal to average cost of $300 for all levels of output. Nature Boy has a marginal cost equal to average cost of $500 at all levels of output. a. This is a Cournot situation where both companies choose quantity simultaneously. They are building the ATVs in the current year and then selling them for the price the market determines in the next year. In the Nash equilibrium identify 1) the quantities chosen by Road Dog and Nature Boy, 2) the market price that will result, 3), and the prots received by Road Dog and Nature Boy. Make sure to explain clearly how you are solving the problem and show your work. (20 points)