The general form of the inverse demand curve is P = a – bQ. In one market, the specific inverse demand is P = 100 – 1/3Q
Posted: Sun Jul 03, 2022 1:05 pm
The general form of the inverse demand curve is P = a – bQ. Inone market, the specific inverse demand is P = 100 – 1/3Q and themarginal cost for all firms is MC = 25. Use these equations toanswer questions 2, 3, and 4. Show all computations.
3. The few firms that supply the market successfully form acartel.
a. What is the MR for the cartel? Answer:
b. What will the quantity supplied? Answer:
c. What price will the cartel charge? Answer:
3. The few firms that supply the market successfully form acartel.
a. What is the MR for the cartel? Answer:
b. What will the quantity supplied? Answer:
c. What price will the cartel charge? Answer: