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Suppose there are two firms producing crude oil in the market

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Suppose there are two firms producing crude oil in the market. The market demand curve is linear and is given as follows: Q(p) = 300 - 2p, where Q is the number of barrels of crude oil. The marginal cost to produce per barrel of crude oil is $30 and there is no fixed cost. If the two firms form a Cartel (monopolist) and jointly produce the monopolist's profit-maximizing output level, what will the price of crude oil be in the market? 30 o 70 O 120 O 90 60
Suppose there are two firms producing crude oil in the market. The market demand curve is linear and is given as follows: Q(p) = 300 - 2p, where Q is the number of barrels of crude oil. The marginal cost to produce per barrel of crude oil is $30 and there is no fixed cost. If the two firms compete in a Bertrand model, what will the price of crude oil be in the market? 120 30 o 70 O 90 o 60