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Posts: 189
A month 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

Edition: 6th
Authors:
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$10; 100
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wrote...
A month 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
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A month ago
$500
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A month ago
TY
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A month ago
Welcome Slight Smile
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A month 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
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A month ago
lower; greater
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