The Zambino brothers enjoy a monopoly of the U.S. market for public fireworks displays for crowds above a quarter of a million. The annual demand for these fireworks displays is P = 140 - Q. The marginal cost is $20. A family dispute broke the firm in two Alfredo Zambino

The Zambino brothers enjoy a monopoly of the U.S. market for public fireworks displays for crowds above a quarter of a million. The annual demand for these fireworks displays is P = 140 - Q. The marginal cost is $20. A family dispute broke the firm in two Alfredo Zambino

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Please see the attached photo, and provide explanation

The Zambino brothers enjoy a monopoly of the
U.S. market for public fireworks displays for
crowds above a quarter of a million. The annual
demand for these fireworks displays is
P = 140 - Q. The marginal cost is $20. A family
dispute broke the firm in two. Alfredo Zambino
now runs one firm and Luigi Zambino runs the
other. They still have the same marginal costs,
but now they are Cournot duopolists. How much
profit has the family lost?

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