Suppose that all 150 identical firms in an industry form a cartel. The demand conditions for the
Question:
a. $20, $180
b. $90, $120
c. $40, $138
d. $60, $0
e. $60, $180
Transcribed Image Text:
Firm Cartel MC, 70 70 S= MC ·ATC 50 40 40 25 25 D= AR MR 300 Quantity 600 Quantity Price ($)
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