graph below shows the demand for Cosmic shampoo.     Suppose there are no fixed costs and marginal cost is a constant $80. a. What are the perfectly competitive price and output?       Price: $        Output:    b. What are the cartel (monopoly) price and output?     Price: $        Output:    c. If there are only four firms in the cartel, what are the price and output of each firm, assuming equal shares? Round your answers to 1 decimal place.     Price: $        Output:

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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The graph below shows the demand for Cosmic shampoo.

 

 


Suppose there are no fixed costs and marginal cost is a constant $80.

a. What are the perfectly competitive price and output?
 

    Price: $ 
 

    Output: 
 

b. What are the cartel (monopoly) price and output?

    Price: $ 
 

    Output: 
 

c. If there are only four firms in the cartel, what are the price and output of each firm, assuming equal shares? Round your answers to 1 decimal place.

    Price: $ 
 

    Output: 

 
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Quantity per period
Costs and revenues
Transcribed Image Text:160 140 120 100 80 60 40 20 200 400 600 800 1000 1200 Quantity per period Costs and revenues
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