Show your work: Suppose steel production by two firms, JFE Steel (JFE) and U.S. Steel (USS), causes air pollution damages of $90 per ton of pollution emis- sions (E). Further, suppose the two firms have private marginal costs of pro- duction (PMC) equal to 2Q, where Q denotes units of steel production. JFE emits one ton of pollution per ton of steel, i.e., EJFE = QJFE, whereas USS emits one-third ton of pollution per ton of steel, i.e., Euss = 1/3Quss. Hence, total pollution is equal to EJFE + EUss = QJFE + 1/3Quss. The companies sell steel into a market with perfectly elastic demand at price $180.4. (5 points) Now suppose the local government allows the rms to trade the pollution quotas they were (freely) allocated in (c). Further, suppose the price of permits is equal to the competitive permit market price of $90. How much does each rm produce? What are prots for each rm and total prots