Two firms. A and B, compete in a market, choosing how many units to produce. Their cost of producing q units is C(q)=5q The market price is given by P(Q)=402Q, where Q=qA+qB is the sum of the quantities each firm produces. Answer: For items (a)-(d), let firm A produce 2 units and B produce 4 units: a) What is the market quantity? b) What is the market price? c) What is the profit of firm A ? d) What is the profit of firm B