Assuming that the following demand and supply equation for a pesticide market. if Qd = 30,000 - 5000P, Qs = 10,000P Calculate the perfectly competitive industry equilibrium price and output.

Assume that the firms in this industry organized into a cartel. Calculate the industry output and price.

Compare your answers for items a and b. Briefly describe the effect that organizing into a cartel had on price and output.