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linhhh linhhh
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4 years ago



Figure 12.1 shows the market for a successful price-fixing arrangement (cartel) between two identical firms. When the two firms act like one and charge the same price, the market price will be ________ and each firm will produce and sell a quantity of ________.

▸ $10; 200

▸ $10; 100

▸ $5; 500

▸ $5; 250
Textbook 
Survey of Economics: Principles, Applications and Tools

Survey of Economics: Principles, Applications and Tools


Edition: 6th
Authors:
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kiyomikakiyomika
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wrote...
#2
4 years ago



Figure 12.1 shows a successful price-fixing arrangement (cartel) between two identical firms. When the two firms act like one and charge the same price, each firm will earn an economic profit of ________.

▸ $1,250

▸ $1,000

▸ $500

▸ $0
wrote...
#3
4 years ago
$500
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#4
4 years ago
TY
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#5
4 years ago
Welcome Slight Smile
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#6
4 years ago



Figure 12.1 shows a successful price-fixing arrangement (cartel) between two identical firms. If the cartel collapses and the two firms compete against each other, the price will be ________ and the quantity will be ________.

▸ lower; smaller

▸ lower; greater

▸ higher; greater

▸ higher; smaller
wrote...
#7
4 years ago
lower; greater
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