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b) There are only two firms in the widget industry. The total demand for widgets is Q 5 30 - 2P. The two firms have

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b) There are only two firms in the widget industry. The total demand for widgets is Q 5 30 - 2P. The two firms have identical cost functions, TC 5 3 + 10Q. The two firms agree to collude and act as though the industry were a monopoly. At what price and quantity will this cartel maximize its profit

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