2. Two firms sell a homogenous good and compete simultaneously in quantity. Market demand is given by P(Y) = 72 - Y, where Y is industry output. Marginal cost is 24 for both firms. Answer the following: (a) Find the quantity each firm produces. (4 marks) (b) Suppose the firms agree to form a cartel and collude. Find the output of each firm and the total output of the industry. (3 marks) (c) Suppose after forming the cartel, one of the firms decides to cheat. How much should the cheating firm produce to maximize its profits