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 265 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?

Symptoms of kidney problems include a loss of appetite, back pain (which may be sudden and intense), chills, abdominal pain, fluid retention, nausea, the urge to urinate, vomiting, and fever.

Did you know?

Elderly adults are at greatest risk of stroke and myocardial infarction and have the most to gain from prophylaxis. Patients ages 60 to 80 years with blood pressures above 160/90 mm Hg should benefit from antihypertensive treatment.

Did you know?

The toxic levels for lithium carbonate are close to the therapeutic levels. Signs of toxicity include fine hand tremor, polyuria, mild thirst, nausea, general discomfort, diarrhea, vomiting, drowsiness, muscular weakness, lack of coordination, ataxia, giddiness, tinnitus, and blurred vision.

Did you know?

Though “Krazy Glue” or “Super Glue” has the ability to seal small wounds, it is not recommended for this purpose since it contains many substances that should not enter the body through the skin, and may be harmful.

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

3D DNA Model 3D DNA Model
This chart illustrates the bottom up assumption about government. In this, attitudes, culture, and This chart illustrates the bottom up assumption about government. In this, attitudes, culture, and
Model of cI repressor binding to DNA Model of cI repressor binding to DNA
A Production Function with Diminishing Marginal Product of Capital A Production Function with Diminishing Marginal Product of Capital
Model depicting how genetic recombination Model depicting how genetic recombination
If the frequency equals 60 Hz in Figure 10-1, what is the value of capacitance? If the frequency equals 60 Hz in Figure 10-1, what is the value of capacitance?
Video: Metabolic Rate, Heat and Thermoregulation - response to heat and cold stresses

For a complete list of videos, visit our video library