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 276 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?

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?

Adult head lice are gray, about ? inch long, and often have a tiny dot on their backs. A female can lay between 50 and 150 eggs within the several weeks that she is alive. They feed on human blood.

Did you know?

This year, an estimated 1.4 million Americans will have a new or recurrent heart attack.

Did you know?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

Did you know?

All adverse reactions are commonly charted in red ink in the patient's record and usually are noted on the front of the chart. Failure to follow correct documentation procedures may result in malpractice lawsuits.

A molecular model showing chromosome territories in the cell nucleus of humans A molecular model showing chromosome territories in the cell nucleus of humans
Tangential flow filtration model Tangential flow filtration model
Ethical Decision-Making Model Cont Ethical Decision-Making Model Cont
Type of Interactions, Model, Examples and Dependence of Energy on Distance Type of Interactions, Model, Examples and Dependence of Energy on Distance
Global Climate Model Global Climate Model
Denney's model ON actual level of performance on exercised and unexercised abilities Denney's model ON actual level of performance on exercised and unexercised abilities
Video: Basic rhythm - control centers in medulla oblongata, spirograph and normal tidal cycle

For a complete list of videos, visit our video library