The picture listed below is question for economic.

0 Now, Suppose that there is price competition, also known as Bertrand Competition, between the two rms. What is Bertrand equilibrium price? What will be the quantity sold at Bertrand equilibrium price for each rm and for the entire market? How protable is it? Suppose that rms are Cournot competitors. Industry demand is given by P = 400q1 q2, where ql is the output of the Firm 1 and (12 for Firm 2. Both rms face constant MC and ATC of $20. 0 Solve for the Cournot price, quantity and rm prots. 0 Firm 1 is considering investing in costly technology that will enable it to reduce its costs to $15 per unit. How much should Firm 1 be willing to pay if such an investment can guarantee that Firm 2 will not be able to acquire it? 0 Suppose that these two rms merge and create a monopoly, and Firm 2 adopts Firm 1's technology. Find the monopoly price, quantity, prots and consumer surplus