Top Posters
Since Sunday
5
o
5
4
m
4
b
4
x
4
a
4
l
4
t
4
S
4
m
3
s
3
New Topic  
nakungth nakungth
wrote...
Posts: 1175
Rep: 3 0
6 years ago
On the planet Economus, the demand for Kryptonite is:
QD = 24.08 - 0.06P  P = 401  - 16 QD.  There are four producers of Kryptonite on the planet who have formed a Kryptonite Cartel.  The resulting marginal revenue function for the cartel is:
MR(Q) = 401  - 33 Q.  The marginal costs for producing Kryptonite for the 4 different producers are:
   MC1 ( q1) = q1,
   MC2 ( q2) = 1.5 q2,
   MC3 ( q3) = 2 q3,
   MC4 ( q4) = 2.5 q4.
Determine the Cartel profit maximization output levels of each producer.  If producer #2 cheats and produces 50% more than their collusive output level, determine their new revenue level.
Textbook 
Microeconomics

Microeconomics


Edition: 8th
Author:
Read 138 times
3 Replies
Replies
Answer verified by a subject expert
CanihCanih
wrote...
Posts: 463
6 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
This verified answer contains over 120 words.
1

Related Topics

nakungth Author
wrote...
5 years ago
A+ answer, ty
wrote...
2 years ago
TNX
New Topic      
Explore
Post your homework questions and get free online help from our incredible volunteers
  933 People Browsing
Related Images
  
 277
  
 490
  
 122