graph below shows the demand for Cosmic shampoo. Suppose there are no fixed costs and marginal cost is a constant $80. a. What are the perfectly competitive price and output? Price: $ Output: b. What are the cartel (monopoly) price and output? Price: $ Output: c. If there are only four firms in the cartel, what are the price and output of each firm, assuming equal shares? Round your answers to 1 decimal place. Price: $ Output:
graph below shows the demand for Cosmic shampoo. Suppose there are no fixed costs and marginal cost is a constant $80. a. What are the perfectly competitive price and output? Price: $ Output: b. What are the cartel (monopoly) price and output? Price: $ Output: c. If there are only four firms in the cartel, what are the price and output of each firm, assuming equal shares? Round your answers to 1 decimal place. Price: $ Output:
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
The graph below shows the
Suppose there are no fixed costs and marginal cost is a constant $80.
a. What are the
Price: $
Output:
b. What are the cartel (
Price: $
Output:
c. If there are only four firms in the cartel, what are the price and output of each firm, assuming equal shares? Round your answers to 1 decimal place.
Price: $
Output:
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