[Step-by-Step] 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
Question: 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 profit?
Deliverable: Word Document 
(Solution Library) The following matrix shows the payoffs for
![[See Steps] A firm has the following](/images/solutions/MC-solution-library-39909.jpg "[See Steps] A firm has the following short-run demand and cost")
[See Steps] A firm has the following short-run demand and cost
![[Steps Shown] A firm has the following](/images/solutions/MC-solution-library-39910.jpg "[Steps Shown] A firm has the following short-run demand and cost")
[Steps Shown] A firm has the following short-run demand and cost
![[Solution] A firm has the following short-run](/images/solutions/MC-solution-library-39911.jpg "[Solution] A firm has the following short-run demand and cost")
[Solution] A firm has the following short-run demand and cost
(All Steps) a. What is the grim trigger strategy, and how does
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