Information P Flag question Scenario Use the following information to answer questions 2-4. Assume there are only two producers of tennis rackets: Wilson and Prince. The market demand for tennis rackets is depicted by the algebraic formula P = 100 - Q, where P stands for price and Q stands for quantity of rackets. If the market were monopolized, the resulting formula for the monopolist's marginal revenue would be MR = 100 - 2Q, where MR stands for marginal revenue. Assume that both producers face a constant marginal cost of $20 and that there are no fixed costs. Question 2 Not yet answered Points out of 1.00 P Flag question If Wilson and Prince form a cartel and each agrees to produce one half of the monopolist's profit-maximizing output, how many rackets would each manufacturer produce? Answer: Question 3 Not yet answered Points out of 1.00 P Flag question When Wilson and Prince collude so as to maximize their combined profits, what is the price of tennis rackets? (For example if your answer is $400 then 400) Answer: Question 4 Not yet answered Points out of 1.00 P Flag question How much profit (in dollars) does each manufacturer earn when they agree to produce the monopoly outcome and divide the profit evenly? (For example: If your answer is $400 then enter 400)