.The market demand curve in a commodity chemical industry is given by

Q

= 600 - 3

P

,

where

Q

is the quantity demanded per month and

P

is the marketprice in dollars. Firms in

this industry supply quantities every month, and the resulting market price occurs at the

point at which the quantity demanded equals the total quantity supplied. Suppose there are

two firms in this industry, Firm 1 and Firm 2. Each firm has an identical constant

marginal cost of $80 per unit.