2. The following table depicts a market with two suppliers. If the marginal cost for the production stays at $10 Price Q

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2 The Following Table Depicts A Market With Two Suppliers If The Marginal Cost For The Production Stays At 10 Price Q 1 (23.12 KiB) Viewed 10 times

2. The following table depicts a market with two suppliers. If the marginal cost for the production stays at $10 Price Quantity S80 50 70 60 60 70 50 MO 40 90 30 100 20 110 10 120 A) Calculate TR, MR (2 pts.) B) If there were many suppliers in the market, what would be competitive price and quantity and why? (2 pt.) C) Suppose the industry is a monopoly, what would be the price and quantity supplied? and why? (2 pt.) D) If the two companies decide the break the law and collude, what would the level of supply and price of supply and how much profit would each get? (2 pts.) E) What will happen to one firm which decides to cheat on the other company by supply 10 additional quantity (2 pts.)