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Question 3 (1 point) There are 2 firms in an oligopoly in the market for sugar. Market demand: P = 100 - Q. Each firm
Question 3 (1 point) There are 2 firms in an oligopoly in the market for sugar. Market demand: P = 100 - Q. Each firm has constant MC = 50 = ATC. If this market was served by a monopoly. the monopoly would face MR = 100 - 2Q with its MC = 50. If the firms formed a cartel, what would each firm's profit be? *Round to two decimal places, if needed. "Do not leave spaces before, in between or after your number. "Do not use any units, like a dollar or comma sign. A/ Next Page Page 3 of 5
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