The graph below shows the demand for Cosmic shampoo.Costs and revenues6050403020100200 400 600 800 1000Quantity per periodSuppose there are no fixed costs and marginal cost is a constant $30.a. What are the perfectly competitive price and output?Price: $[Output: 500b. 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 1decimal place.Price: $Output:

The graph below shows the demand for Cosmic shampoo. Costs and revenues 60 50 40 30 20 10 0 200 400 600 800 1000 Quantity per period Suppose there are no fixed costs and marginal cost is a constant $30. a. What are the perfectly competitive price and output? Price: $30 Output: 500 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? R decimal place. Price: $ Output:

The graph below shows the demand for Cosmic shampoo. Costs and revenues 60 50 40 30 20 10 0 200 400 600 800 1000 Quantity per period Suppose there are no fixed costs and marginal cost is a constant $30. a. What are the perfectly competitive price and output? Price: $30 Output: 500 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? R decimal place. Price: $ Output:

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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