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There are only two firms in the widget industry. The total demand for widgets is Q = 30 2P. The two firms have identical cost

There are only two firms in the widget industry. The total demand for widgets is

Q = 30 2P. The two firms have identical cost functions, TC = 3 + 10Q. The two firms agree

to collude and act as though the industry were a monopoly. At what price and quantity will this

cartel maximize its profit?

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