Two firms are competing on a market with demand ( P = 47 - 3Q ) by sequentially choosing how much to produce. Both firms have a marginal cost of 5. In the subgame perfect Nash equilibrium:
a. Firm 1 will produce 12 units
b. Firm 1 will produce 10 units
c. Firm 2 will produce 12 units
d. Firm 2 will produce 10 units
