Consider a city where there are one million identical households. Each household has the following inverse demand curve for electricity.

p=200-2Q

where Q is the quantity demanded per household per year and p is the price per unit.

Suppose that electricity is supplied by perfectly competitive forms, at a constant marginal cost of $50.00 per unit. There are no fixed costs. Find the equilibrium price and the equilibrium quantity demanded per household per year. Denote this quantity by Q_c, where the subscript c in Q, indicates that this is the outcome under perfect competition.