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Two mc questions! Consider the demand for coffee shown above. Assume there are only two coffee shops in the city. The marginal cost of producing

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Two mc questions!

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Consider the demand for coffee shown above. Assume there are only two coffee shops in the city. The marginal cost of producing one coffee is $0.90 dollars and there is no fixed cost. If both firms are colluding, how many coffees should the cartel sell in total and at what price? Q - 5000, P = $0.50 Q - 4000, P = $1.00 Q - 2000, P = $2.00 Q - 3000, P = $1.50 P Question 8 (1 point) In a perfectly competitive industry, with the same costs for all firms, free entry and exit, each firm will have economic profits in the long-run equilibrium. IP OP negative 41 F AN AN different AN AN zero 5 AN 2 Al positive

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