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Author Question: A cartel is a group of firms that A) produce differentiated products. B) produce products that ... (Read 385 times)

V@ndy87

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

C

Answer to Question 2

C


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