Question 1
Refer to the information provided in Figure 14.1 below to answer the question(s) that follow.
Refer to Figure 14.1. Six chewing gum producing firms form a cartel. The firms have identical cost structures. If the cartel produces the profit-maximizing output level, each firm should produce
◦ 2,000 packs of chewing gum.
◦ 6,000 packs of chewing gum.
◦ 12,000 packs of chewing gum.
◦ indeterminate output levels from this information.
Question 2
Refer to the information provided in Figure 14.1 below to answer the question(s) that follow.
Refer to Figure 14.1. Firms form a cartel that maximizes profits. The profits are
◦ $0.
◦ $1,080.
◦ $1,800.
◦ indeterminate from this information.
Figure and Ground
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