Refer to the information provided in Figure 14.1 below to answer the question(s) that follow. Demand and cost conditions for the Chewing Gum Industry $4 MC .40 .35 .31 3.30 ATC D .25 MR Q Packs of chewing gum in thousands 12 14 16 Figure 14.1 Refer to Figure 14.1. Six firms that produce chewing gum form a cartel. The cartel faces the market demand curve given by D. To maximize profits, the cartel should produce packs of chewing gum and the price should be O a. 14,000; $.30 O b. 12,000; $.40 O c. 16,000; $.35 O d. 12,000; $.25 Dollars.

Refer to the information provided in Figure 14.1 below to answer the question(s) that follow. Demand and cost conditions for the Chewing Gum Industry $4 MC .40 .35 .31 3.30 ATC D .25 MR Q Packs of chewing gum in thousands 12 14 16 Figure 14.1 Refer to Figure 14.1. Six firms that produce chewing gum form a cartel. The cartel faces the market demand curve given by D. To maximize profits, the cartel should produce packs of chewing gum and the price should be O a. 14,000; $.30 O b. 12,000; $.40 O c. 16,000; $.35 O d. 12,000; $.25 Dollars.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter15: Oligopoly And Strategic Behavior

Section: Chapter Questions

Problem 7P

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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. Would Sam and Jack have an incentive to break the cartel agreement and lower their price to increase the number of tennis lesson appointments? Explain.
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The graph below shows the demand for Cosmic shampoo. ◻ Suppose there are no fixed costs and marginal cost is a constant $30. 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: Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
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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
Coke and Pepsi dominate the cola market. Suppose that the marginal cost of making cola is $2. Assume also that the demand for cola is given by the following table: Price $8 7 6 5 4 3 2 1 Quantity 5 cans 6 7 8 9 10 11 12 Suppose Coke and Pepsi both supply cola. They form a cartel and agree to cooperate on how much soda to produce. In this cartel case, how many bottles of cola would be sold? Type your answer...
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