(Answered) Scenario two identical firmstwo identical firms make up an

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Scenario: Two Identical Firms

Two identical firms make up an industry in which the market demand curve is represented by Q = 5,000 - 4P, where Q is the quantity demanded and P is price per unit. The marginal cost of producing the good in this industry is constant and equal to $650. Fixed cost is $0.

(Scenario: Two Identical Firms) Use the information from the scenario Two Identical Firms. If one firm in the scenario decides to cheat, the cheating firm will:

(a) Find that cheating initially leads to an increase in both of the firms' profits.

(b) Be able to increase its profits initially.

(d) Find that cheating leads to a decrease in its profits alone.

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