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The table shows the demand schedule and total revenue for textbook sales by University Bookstore and College Bookstore combined. Price Quantity Total revenue $36 0
The table shows the demand schedule and total revenue for textbook sales by University Bookstore and College Bookstore combined. Price Quantity Total revenue $36 0 $0 33 2 66 30 4 120 27 6 162 24 8 192 21 10 210 18 12 216 15 14 210 12 16 192 9 18 162 6 20 120 3 22 66 0 24 0 Assume that the marginal cost of selling the books is zero. Suppose that the two stores have agreed to maximize industry profit and split that profit evenly. If both stores cheat on the agreement by selling 2 additional books, industry profit will fall to $ _____. 120 162 192 210
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