Question: A market has an inverse demand function p = 120 - Q and four firms, each of which has a constant marginal cost of MC

A market has an inverse demand function p = 120 - Q and four firms, each of which has a constant marginal cost of MC = 40. If the firms form a profit-maximizing cartel and agree to operate subject to the constraint that each firm will produce the same output level, how much does each firm produce?

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