In the market for oil, the (inverse) demand curve is P = 200 – Q. MR is 200 – 2Q. MC is 0.5Q + 50. (Prices are in price per barrel, and Q units are millions of barrels.) If OPEC controls production, how much should they release onto the market if they want to maximize their profit?
***Enter your answers in terms of Q, so 10 million would go in as just 10.***