Two firms are competing in a Bertrand market. Each firm's residual demand and cost functions are 91 = 150 – 5p, + 4p2 TC, = 5q1 q2 = 125 – 3.8p2 + 5p1 TC2 = 3.8q2 Assume no differentiation. What is the market price? Round to two decimals.

Q: c. How much total consumer surplus will each of them receive at a price of $32?

A: Last parts C and d are answered below:

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