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Author Question: A cartel maximizes industry profit by: a. eliminating quotas. b. producing at the kink in its ... (Read 50 times)

vicotolentino

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on: Jun 30, 2018
A cartel maximizes industry profit by:
 a. eliminating quotas.
  b. producing at the kink in its demand curve.
  c. producing where MR = MC.
  d. giving secret price concessions.
  e. producing more output than a monopoly would.

Question 2

Total fixed cost are costs that are fixed with respect to:
 a. the rate of output.
  b. time.
  c. technology.
  d. the minimum wage or price supports.


Sophiapenny

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Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

a


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