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Author Question: In an oligopoly with a collusive agreement, the total industry profits will be smallest when A) ... (Read 73 times)

lbcchick

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on: Jun 29, 2018
In an oligopoly with a collusive agreement, the total industry profits will be smallest when
 
  A) all firms comply with the agreement.
  B) one firm cheats on the agreement and the other firms do not cheat.
  C) all firms cheat on the agreement.
  D) the firms act as a monopoly.

Question 2

The figure above shows the demand and cost curves for a single-price monopoly. What level of output maximizes the firm's economic profit?
 
  A) 0 units
  B) 20 units
  C) 30 units
  D) 50 units


peilian

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

B


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