In the market for a given good there are only 2 firms satisfying the demand, and their respective total cost functions respond to the form: CTi = 10Qi + 5 and the demand is estimated to be: P = 31 - Q If the decision variable for both firms is that the quantity they will produce and realize will be decided simultaneously it is asked to: (a) calculate the profit and reaction function of each firm b) graph market equilibrium c) calculate the profits that both companies will obtain in equilibrium

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