*1.4 A market has an inverse demand function p = 120 - Q and four firms, each...
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*1.4 A market has an inverse demand function p = 120 - Q and four firms, each of which has a constant marginal cost of MC = 40. If the firms form a profit-maximizing cartel and agree to operate subject to the constraint that each firm will produce the same output level, how much does each firm produce?
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Managerial Economics And Strategy
ISBN: 9780135640944
2nd Global Edition
Authors: Jeffrey M. Perloff, James A. Brander
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