Question 4: Two rms compete in prices. Firm 1's marginal cost of production is 5 dollars per unit and Firm 2's marginal cost of production is 5 dollars per unit. The market demand curve is Q(p) : 100 7 2p. Each rm maximizes its expected prot. Suppose the two rms simultaneously choose their prices. 1. What is the market price in equilibrium? 2. What is the quantity sold by each rm? 3. What is each rm's equilibrium prot