Question 1
Refer to the information provided in Figure 14.1 below to answer the question(s) that follow.
Refer to Figure 14.1. Six chewing gum producing firms form a cartel. The firms have identical cost structures. If the cartel produces the profit-maximizing output level, each firm should produce
◦ 2,000 packs of chewing gum.
◦ 6,000 packs of chewing gum.
◦ 12,000 packs of chewing gum.
◦ indeterminate output levels from this information.
Question 2
Refer to the information provided in Figure 14.1 below to answer the question(s) that follow.
Refer to Figure 14.1. Firms form a cartel that maximizes profits. The profits are
◦ $0.
◦ $1,080.
◦ $1,800.
◦ indeterminate from this information.
answer only
Which of the 3 structures shown below has the shortest bond length? Justify your answer.
Economics question
Economics question
economic question
Figure 2.15.jpg