Consider a market of four (4) firms that produce the same thing. Market demand is P = 250 - Q and the marginal cost of production is $10. If firms compete through production, what will be the expected market quantity and market price?
a. Q = 48, P = $58
b. Q = 192, P = $58
c. Q = 120, P = $130
d. Q = 240, P = $10