the inverse market demand curve for bean sprout is given by P(Y)=100-2Y, and the cost function for any firm in the industry is given by TC(y)=4y. What is the MC? What is the change in price for one unit increase in output? What is the output if the bean sprout industry were perfectly competitive? Suppose that two Cournot firms operated in the market. What is the reaction function for firm 1? Reaction function for firm 2? Equilibrium point? Output? For the Cournot case draw the two reaction curves and indicate the equilibrium point.