Author Question: If a cartel seeks to maximize profits, the market share (or quota) for each firm should be set at a ... (Read 125 times)

shenderson6 · **on:** Jul 1, 2018

If a cartel seeks to maximize profits, the market share (or quota) for each firm should be set at a level such that the ____ of all firms is identical.
a. average total cost
b. average profit
c. marginal profit
d. marginal cost
e. marginal revenue

Question 2

It is illegal for business to price discriminate when selling goods to other businesses unless
a. Price discounts are cost-justified
b. Discounts are offered to meet competitors' price
c. Both a and b
d. It is not illegal for businesses to price discriminate