Author Question: A cartel is a group of firms that A) produce differentiated products. B) produce products that ... (Read 2975 times)

V@ndy87

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A cartel is a group of firms that
 
  A) produce differentiated products.
  B) produce products that are complements.
  C) agree to restrict output to boost their profit.
  D) agree to boost output to boost their profit.

Question 2

Which of the following is ALWAYS true for a profit-maximizing single-price monopolist?
 
  A) P = MC
  B) P = MR
  C) MR = MC
  D) MC = ATC



harveenkau8139

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Answer to Question 1

C

Answer to Question 2

C



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