Author Question: If there is a collusive agreement in a duopoly to maximize profit, then the price will A) equal ... (Read 141 times)

Mr. Wonderful

  • Hero Member
  • *****
  • Posts: 866
If there is a collusive agreement in a duopoly to maximize profit, then the price will
 
  A) equal the marginal cost of production.
  B) equal the average total cost of production.
  C) be the same as the price set by a monopoly.
  D) be the same as the price set by a competitive industry.

Question 2

Marginal social cost is equal to the
 
  A) sum of marginal private cost and marginal external cost.
  B) sum of marginal private cost and marginal private benefit.
  C) marginal cost incurred by the producer of the good.
  D) marginal cost imposed on others.



ghepp

  • Sr. Member
  • ****
  • Posts: 361
Answer to Question 1

C

Answer to Question 2

A



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Only one in 10 cancer deaths is caused by the primary tumor. The vast majority of cancer mortality is caused by cells breaking away from the main tumor and metastasizing to other parts of the body, such as the brain, bones, or liver.

Did you know?

About 80% of major fungal systemic infections are due to Candida albicans. Another form, Candida peritonitis, occurs most often in postoperative patients. A rare disease, Candida meningitis, may follow leukemia, kidney transplant, other immunosuppressed factors, or when suffering from Candida septicemia.

Did you know?

Anti-aging claims should not ever be believed. There is no supplement, medication, or any other substance that has been proven to slow or stop the aging process.

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

For a complete list of videos, visit our video library