Consider a duopolistic market with an inverse demand curve  P(Q) = 460 − 4Q and constant marginal costs for each firm that are given by  MC(Q) = 10. Assume fixed costs are negligible. The two identical firms are competing in this market by choosing their production quantities simultaneously. In the​ equilibrium, each firm produces 37.5 units and the prevailing market price is 160.   How would the joint profits of these two firms change if they s

ENGR.ECONOMIC ANALYSIS
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Consider a duopolistic market with an inverse demand curve  P(Q) = 460 − 4Q
and constant marginal costs for each firm that are given by  MC(Q) = 10.
Assume fixed costs are negligible. The two identical firms are competing in this market by choosing their production quantities simultaneously. In the​ equilibrium, each firm produces
37.5 units and the prevailing market price is 160.
 
How would the joint profits of these two firms change if they successfully formed a​ cartel?
 
Change in joint​ profits: ?  
​(Enter your answer rounded to two decimal​ places; include a negative sign if ​appropriate.)
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