Nick maintains a monopoly in the holographic TV market because of its patent, but it is about to expire. The market dema

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Nick maintains a monopoly in the holographic TV market becauseof its patent, but it is about to expire. The market demand andNick’s production cost are given by: P = 100 − 0.5𝑄 and 𝑇𝐶 = 100 +0.5Q2 The market price is , (please put your answer in numericalvalues without any dollar sign, comma or decimal place). The marketquantity is , (please put your answer in numerical values withoutany comma or decimal place). The monopoly profit is , (please putyour answer in numerical values without any dollar sign, comma ordecimal place). P=75, q=50?? 1250, 2400 1/3 are wrong (-2 points )2/3 points 1 points
Two firms decide to form a cartel and collude in a way thatmaximizes industry profits. Each firm has zero production costs andeach firm is given a positive output quota by the cartel. Which ofthe following statements is not true? a. Each firm would want toproduce more than its quota if it knew that the other wouldcontinue to produce at its quota. b. Output would be lower than ifthe firms behaved as Cournot firms. c. Output would be lower thanif the firms behaved as competitors. d. All of the other statementsare false.