At what price and quantity will cartel maximize its profit

Reference no: EM13212186

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 act as though they were a monopoly. At what price and quantity will this cartel maximize its profit?

Reference no: EM13212186

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