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Mairoon Mairoon
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6 years ago
Suppose that market demand can be represented as p = 100 - 2Q. There are 10 identical firms producing an undifferentiated product, each with the total cost function TC = 50 +  . Compare the competitive outcome with the cartel outcome. What is the individual firm's incentive to cheat on the cartel?
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Microeconomics

Microeconomics


Edition: 6th
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ChronosChronos
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6 years ago
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