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nakungth nakungth
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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
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CanihCanih
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nakungth Author
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#2
5 years ago
A+ answer, ty
wrote...
#3
2 years ago
TNX
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