Refer to the graph of market demand and marginal revenue. Two firms have formed a centralized cartel in order to maximize profit on the market. Their marginal cost curves are given below: 100 Price 90 80 70 60 50 40 30 20 10 0 ก 2 -5 1 2 3 4 5 6 7 8 9 10 11 Demand Quantity Show Transcribed Text MC₁ = 10Q1 and MC₂ = 30 Q2 In order to maximize profit, the firms should produce Q1 = 3, Q2 = 1, and charge P= 60. How do I solve this?

Price MC 500 700 900 Quantity Five firms in an industry have equal and constant marginal costs and act as a cartel, with each firm agreeing to charge a price of $9. If they each sell an equal quantity of output, each firm will earn $ type your answer in revenue. If one firm decides to increase its quantity sold by 200 units, the cheating firms revenue will increase by $ type your anwer and the remaining firms will see tir total revenue decrease by $ type your anwwer.

7 Question 5 of 24 - HW16: Ho × Question 19 of 19 - HW15: Ho X M Changing a Major // Advising Gwhere to find cartel profit on X + ng.com/sac/10376090#/10376090/18/4 ✓ A Pause 50 pts 0 Hint Submit Answer uestion 19 of 19 > The accompanying payoff matrix presents the profits for Firm A and Firm B under two pricing strategies. © Macmillan Learning Firm A's strategy High price Low price Firm A Profit = $87 Firm A Profit = $113 High price Firm B Profit = $87 Firm B Profit = $41 Firm B's strategy Firm A Profit = $41 Low price Firm B Profit = $113 Firm A Profit = $71 Firm B Profit = $71 Suppose both firms have agreed to employ strategies that maximize their combined profits. How will the firms act? Firm A will agree to Set a high price Set a low price Firm B will agree to Set a low price Set a high price Attempt 6 Compare the profits of Firm A when both firms respect the collusive agreement to the profits of Firm A when Firm A secretly cheats on the agreement. How much additional profit would…

ne Semester 2023 dules nouncements NWP Assessment Play X signments scussions yllabus Grades Zoom People Turnitin https://calstatela.instructure.com/courses/85933/quizzes/382812/take Oligopoly Oaksville has two tennis instructors, Sam and Jack. The figure shows the demand curve and marginal revenue for tennis lesson appointments and the average total cost. Price and cost (dollars per appointment) Microsoft Office 365 Google Apps Type here to search X F1 @ 2 21 A- F2 A+ F3 Quiz: Homework 7 #3 X F4 BI $ 4 70 60 50 40 30 23 10 ☀ - F5 0 X % 5 2 Alt Text: pink glitter ro X Alt Text: appointments Competitive Outcome, (Pcomp, Qcomp) ☀+ F6 6 MR 8 F7 6 4 10 Quantity (appointments per hour) L yu F8 8 & 7 O MC D ATC F9 Negative Manuscript X * 00 8 F10 ( 9 n F11 ) 0 Oracle Peopl 59°F Mostly clouc ☆ A to F12 Hom

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The table shows the demand schedule for a particular product.    Quantity  Price 0 100 300 90 600 80 900 70 1200 60 1500 50 1800 40 2100 30 2400 20 2700 10 3000 0 Suppose the market for this product is served by two firms who have formed a cartel and are colluding to set the price and quantity in this market. If the marginal cost to produce this product is constant at $40 per unit, then what price will the cartel set in this market?    a. $40    b. $50     c. $60     d. $70       e. $80

6. Deviating from the collusive outcome Mays and McCovey are beer-brewing companies that operate in a duopoly (two-firm oligopoly). The daily marginal cost (MC) of producing a can of beer is constant and equals $0.40 per can. Assume that neither firm had any startup costs, so marginal cost equals average total cost (ATC) for each firm. Suppose that Mays and McCovey form a cartel, and the firms divide the output evenly. (Note: This is only for convenience; nothing in this model requires that the two companies must equally share the output.) Place the black point (plus symbol) on the following graph to indicate the profit-maximizing price and combined quantity of output if Mays and McCovey choose to work together.

4:21 lLTE Work 13. In the Nash equilibrium of a prisoner's dilemma: 14. Suppose Acme and Mega produce and sell identical products and face zero marginal and average cost. Below is the market demand curve for their product 4 3 2 D 0 0 50 200 100 150 Quantity Suppose Acme and Mega decide to collude and work together as a monopolist with each firm producing half the quantity demanded by the market at the monopoly price. If Mega cheats on the agreement by red ucing its price to $1 and Acme matches the price cut, then if consumers are evenly split between the two firms, Acme's economic profit will be Price ($/unit)

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Question 18 Dollars bon 0 MR g Output hj MC ATC The diagram above shows kinked demand and marginal revenue curves for a non-collusive oligopolist. What basic assumption is used to create this kinked structure) O firms ignore action of rival hems Orivals will match both a price increase and a price decrease Crivals will match a price increase but ipnore a price decrease rivals will ignore a price increase but match a price decrease No new