Question: Two firms making identical output compete by simultaneously picking their level of output. The market demand curve is given by P = 250 - 2Q

Two firms making identical output compete by simultaneously picking their level of output. The market demand curve is given byP = 250 - 2Q, where Q refers to the total output supplied into the market (by both firms). Each firm has a constant marginal cost of production of $43 per unit and no fixed costs. In the resulting equilibrium what is the level of profit of a single firm?

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