Three (3) identical firms produce widgets. Each firm faces a constant marginal cost of

$10perwidget,andhasfixedcostsof$15,000.Thefirmscompetebyselectingquantities (Cournot Competition). Inverse demand in themarketis givenbytheequation,

P = 50 - (Q/100)

wherePrepresents the market price andQis the total quantity produced by the three firms.

Question: Explainhowthe structure of thismarketwould change over time ( no calculations required)