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Author Question: In an oligopoly with a collusive agreement, the total industry profits will be smallest when A) ... (Read 81 times)

lbcchick

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  • Posts: 550
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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  • Posts: 316
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

B


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