Suppose the market demand for EC0101 textbooks at the UofT is given by Q = 1000 2P. The Marginal Cost of a textbook is $50. Suppose there are only two textbook publishers, both printing the exact same textbook. They compete in a Cournot manner. Suppose each firm produces q = 450. Is this an equilibrium? Explain your reasoning, show all the steps of your working clearly. Keep your responses short and precise. Under 250 words is a good rule of thumb