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Suppose there are no fixed costs and marginal cost is a constant $80 a) what are the perfectly competitive price and output?b) what are the
Suppose there are no fixed costs and marginal cost is a constant $80 a) what are the perfectly competitive price and output?b) what are the cartel (monopoly) price and output?C) if there are only four firms in the cartel ,what are the price and output of each firm,assuming equal shares?Round up to 1 decimal place.
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