3. (16 total points) Suppose there are 7 firms in an industry. The Market Demand Curve is given by P = 258 -3Q. Each firm has MC =6 and FC =0. Suppose the firms form a Cartel and agree to maximize the joint profits, split the profit-maximizing output equally and split the profits equally. A) (4 points) How much output will each firm produce? 1 = 1,7 B) (4 points) How much profit will each firm make? II = i = 1,7 C) (4 points) Now suppose that Firm 1 decides to cheat on the agreement. Assuming the other 6 firms each produce the quantity given in A), write the equation for the residual demand that faces Firm 1. QR = D) (4 points) If Firm 1 expects Firm 2 to produce the amount of output in F), how much output should Firm 1 produce to maximize their profit