Author Question: Cooperation and CompetitionScholastica City has two college bookstores: one owned by Laverne and one ... (Read 143 times)

stananza · **on:** Nov 23, 2022

Cooperation and Competition

Scholastica City has two college bookstores: one owned by Laverne and one owned by Shirley. The table shows the price and quantity demanded for books in Scholastica City.

Price	Quantity Demanded
500	0
400	71
300	95
200	119
100	143

Assume that the marginal cost of producing a book is $100.
If Laverne and Shirley form a cartel and maximize their joint profit, what is the price of books and what quantity is sold?
◦ $100, 143
◦ $400, 71
◦ $200, 119
◦ $300, 95

kaelamcrone · **Reply #1 on:** Nov 23, 2022

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