Question 9 A market comprises three firms i E { 1, 2, 3 } competing in quantities. Inverse Not yet answered market demand is given by p(Q) = 650 - 10Q, where Q = q1 + q2 + 93. Each Marked out of 9.00 firm i has marginal cost ci, and therefore profit function Flag question Tti ( 91, 92, 93) = (p - ci)qi. a) (1.5 marks) Suppose c1 = 1, c2 = 5, and c3 = 7. Find the best response functions for each firm by filling numbers in the blanks below. 91 ( 92, 93 ) = (92 + 93). 92 (91, 93) = (91 + 93). 93 ( 91, 92) = (91 + 92). b) (1 mark) In equilibrium, we know that the level of output for each firm is q1 = 16.475, 92 = 16.075, 93 = 15.875. Compute the profit of firm 1: m1 = Compute the profit of firm 2: 12 =