This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: In the scenario above, which of the following actions will maximize the industry's economic profit? ... (Read 21 times)

shenderson6

  • Hero Member
  • *****
  • Posts: 573
on: Jun 29, 2018
In the scenario above, which of the following actions will maximize the industry's economic profit?
 
  A) Both firms comply with the agreement.
  B) Both firms cheat on the agreement, producing more than the agreed amount.
  C) One of the firms complies with the agreement while the other firm cheats, producing more than the agreed amount.
  D) Because the firms are colluding, the profit does not change regardless of whether the firms comply with agreement or cheat on the agreement.

Question 2

The table above shows the demand and total cost schedule for a monopolist hotel. What price should the monopolist charge if it is a single-price monopoly that maximizes its profit?
 
  A) 171
  B) 161
  C) 151
  D) 141


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Eunice618

  • Sr. Member
  • ****
  • Posts: 350
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

D


shenderson6

  • Member
  • Posts: 573
Reply 2 on: Jun 29, 2018
Wow, this really help

AngeliqueG

  • Member
  • Posts: 343
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Asthma attacks and symptoms usually get started by specific triggers (such as viruses, allergies, gases, and air particles). You should talk to your doctor about these triggers and find ways to avoid or get rid of them.

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Did you know?

The tallest man ever known was Robert Wadlow, an American, who reached the height of 8 feet 11 inches. He died at age 26 years from an infection caused by the immense weight of his body (491 pounds) and the stress on his leg bones and muscles.

Did you know?

About 60% of newborn infants in the United States are jaundiced; that is, they look yellow. Kernicterus is a form of brain damage caused by excessive jaundice. When babies begin to be affected by excessive jaundice and begin to have brain damage, they become excessively lethargic.

Did you know?

In inpatient settings, adverse drug events account for an estimated one in three of all hospital adverse events. They affect approximately 2 million hospital stays every year, and prolong hospital stays by between one and five days.

How is this worker trying to avoid becoming a depersonalized unit in a bureaucratic-economic ... How is this worker trying to avoid becoming a depersonalized unit in a bureaucratic-economic ...
Indicators of Relative Economic Well-Being Indicators of Relative Economic Well-Being
Major Muscles: Origins, Insertions, and Actions Major Muscles: Origins, Insertions, and Actions
A Comparison of Economic Systems A Comparison of Economic Systems
economic question economic question
economic question economic question
Video: B cells and antibodies

For a complete list of videos, visit our video library