Suppose that there are only two companies producing video-game consoles, Gamer Great and Player. Say that the companies' costs, illustrated in the adjacent figure (Figure A), are the same. The figure also shows the market demand curve (D) and marginal revenue curve (MR) for game consoles. The market demand curve is given by: Qd=21,000,000 -30,000P Suppose that Gamer Great initially was the only firm producing a game console. If Gamer Great is the monopoly producer of game consoles, the price of a console is $ 500 and quantity of consoles produced is 6000000 per year. Gamer Great's economic profit is $ 1200000000. (Carefully enter your responses considering the units on the axes of the given figure.) Suppose that Gamer Great and Player compete as Cournot duopolists. Using the line-drawing tool, show the best-response curves for Gamer's Great and Player in the adjacent figure (Figure B) and label the curves as QGG and Qp respectively. Carefully follow the instructions above and only draw the required objects. Suppose Gamer Great is a monopoly and then Player enters the market. The number of game consoles produced by Player will be consoles per year. Player quantity (millions of consoles/year) Price and costs ($game console) 14 12- 10- $700- $800- $500- Figure A $400- $300- MC=ATC $200- $100- SO- MR 6 12 15 18 3 21 Quantity (millions of game consoles per year) Figure B Qoo 10 12 14 Gamer Great quantity (millions of consoles/year) G [