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Two identical firms are the only sellers in a market.The market demand curve is Q = 50 - P.It cost $30 to produce and sell

Two identical firms are the only sellers in a market.The market demand curve is Q = 50 - P.It cost $30 to produce and sell each unit sold in the market.Suppose the two firms act as a cartel and maximize profits, each firm with 50% market share.Calculate the following:

a) The market price

b) The quantity produced BY EACH FIRM

c) The total profits OF EACH FIRM.

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