Question 5. Competition among few firms (8 points) Consider the large jet airliner market, with two

Question 5. Competition among few firms (8 points) Consider the large jet airliner market, with two firms Airbus and Boeing (called A and B). There are several ways that model the way that the two firms compete. Assumė that the Cournot model describes the way the firms compete. This is illustrated by five lines (1-5) in the figure below. ЧА Ярс 9m Яв 9m Ярс Shortly describe each of the five lines: 1 (1p), 2 (2p), 3 (2p), 4 (2p) and 5 (1p). But, ensure that you describe the lines clearly. You must show that you understand what they illustrate, so the answers cannot be too short.

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