2. Deviating from the collusive outcome Mays and Mccovey are beer brewing companies that operate in a duopoly (two firm oligopoly). The daily marginal cost (MC) of producing a can of beer is constant and ecua's $0.40 per can. Assume that nether frm bed any startup costs, so marginal cost equals average total cost [ATC) for each firm. Suppose that Mays and Mccovey form a cartel, and the firms divide the output evenly. (Note: This is only for convenience; nothing in this model requires that the two companies must equally share the output.) Race the alsok point (ofus symool) on the following graph to Indicate the profit maximizing arlee and combined quantity of outout MY Mays and Mccovey choose to work together. (7) Correct Answer Your Answer 1.00 0.50 Monopoly Outcome 0 20 Cam-nil $ 0.70 : 0.50 PRICE (Dola's par caro 2 0.50 NC = AIC 0 41 E 0.30 0.20 0.10 MR 20 40 60 80 100 120 142 120 180 200 QUANTITY (Cans of beer]