3. The global market for uhsoy. The world market for uhsoy - a revolutionary ogm crop - is served by three producers only: Asoy, Bsoy, and Csoy. The inverse aggregate demand for uhsoy is D-'(Q) = 1000 - 2Q. The three producers have identical cost function: C(q;) = 800 + 280qi, where q; is the quantity produced by firm i, for i = A, B, C. The firms compete by choosing quantities. (a) Compute the Cournot equilibrium price, profits for each firm, and the overall Consumer surplus. (10 points) (b) Suppose that Asoy and Bsoy merge into a new entity, named ABsoy. For each of the three scenarios below, recalculate the equilibrium and compare the profits of ABsoy, the profit of Csoy, and consumer surplus to the values obtained in part (a) above. (i) CAB(qAB) = 800 + 280qAB (5 points) (ii) CAB(qAB) = 800 + 200qAB (5 points) (iii) CAB(qAB) = 600 + 280qAB (5 points)