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

Author Question: Under the cartel model, each firm produces where a. marginal cost equals marginal revenue. b. ... (Read 218 times)

HCHenry

  • Hero Member
  • *****
  • Posts: 591
on: Jul 1, 2018
Under the cartel model, each firm produces where
 a. marginal cost equals marginal revenue.
  b. price equals marginal cost.
  c. the average cost curve is at a minimum.
  d. price exceeds marginal cost by the greatest amount.

Question 2

In the cartel model
 a. firms believe that price increases result in a very elastic demand, while price decreases result in an inelastic demand for their products.
  b. each firm acts as a price taker.
  c. one dominant firm takes the reactions of all other firms into account in its output and pricing decisions.
  d. firms coordinate their decisions to act as a multiplant monopoly.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

chem1s3

  • Sr. Member
  • ****
  • Posts: 320
Reply #1 on: Jul 1, 2018
Answer to Question 1

a

Answer to Question 2

d


HCHenry

  • Hero Member
  • *****
  • Posts: 591
Reply #2 on: Jul 1, 2018
Thank you


chem1s3

  • Sr. Member
  • ****
  • Posts: 320
Reply #3 on: Jul 1, 2018
No problemo


« previous next »
 

Did you know?

Asthma cases in Americans are about 75% higher today than they were in 1980.

Did you know?

Over time, chronic hepatitis B virus and hepatitis C virus infections can progress to advanced liver disease, liver failure, and hepatocellular carcinoma. Unlike other forms, more than 80% of hepatitis C infections become chronic and lead to liver disease. When combined with hepatitis B, hepatitis C now accounts for 75% percent of all cases of liver disease around the world. Liver failure caused by hepatitis C is now leading cause of liver transplants in the United States.

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Did you know?

The shortest mature adult human of whom there is independent evidence was Gul Mohammed in India. In 1990, he was measured in New Delhi and stood 22.5 inches tall.

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

A mast cell, which produces the symptoms of a hypersensitivity reaction. A mast cell, which produces the symptoms of a hypersensitivity reaction.
Original Model of Jupiter’s Belts and Zones Original Model of Jupiter’s Belts and Zones
Oil drop model of protein folding Oil drop model of protein folding
Marx's Model Of The Social Classes Marx's Model Of The Social Classes
A current model for protein secretion by prokaryotes A current model for protein secretion by prokaryotes
DPSIR Model DPSIR Model
Video: Glycolysis Animation

For a complete list of videos, visit our video library