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Four tire manufacturers decide to form a cartel. All four manufacturers agree to restrict their total output to 400 tires and charge $100 per tire.

Four tire manufacturers decide to form a cartel. All four manufacturers agree to restrict their total output to 400 tires and charge $100 per tire. Suppose one tire manufacturer decides to cheat by producing an additional 80 tires and the price drops to $70. How much will the cheater gain from the additional 80 tires at the new price

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