5040302010200400600B001000Quantity per periodSuppose there are no fixed costs and marginal cost is a constant $30.a. What sre the perfectiy competitve price and output?Price: $30 0Output:500b. What are the cartel (monopoly) price snd output?Price: S40 0Output:300 Oc lfthere are only four firms in the cartel, what are the price and output of esch firm, assuming equal shares? Round your anawers to 1decimal plece.Price:$40 0Output:75 0sanuana pue Ssog

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50 40 30 20 10 200 400 600 B00 1000 Quantity per period Suppose there are no fixed costs and marginal cost is a constant $30. a. What sre the perfectiy competitve price and output? Price: $ 30 Output: 500 O b. What are the cartel (monopoly) price snd outout? Price: $ 40 Output: 300 O c lf there are only four firms in the cartel, what are the price and output of esch firm, assuming equal shares? Round your anawers to 1 decimsl plece. Price: $ 40 0 Output: 75 O sanuana pue ssog

50 40 30 20 10 200 400 600 B00 1000 Quantity per period Suppose there are no fixed costs and marginal cost is a constant $30. a. What sre the perfectiy competitve price and output? Price: $ 30 Output: 500 O b. What are the cartel (monopoly) price snd outout? Price: $ 40 Output: 300 O c lf there are only four firms in the cartel, what are the price and output of esch firm, assuming equal shares? Round your anawers to 1 decimsl plece. Price: $ 40 0 Output: 75 O sanuana pue ssog

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter9: Monopoly

Section: Chapter Questions

Problem 32P: Draw the demand curve, marginal revenue, and marginal cost curves from Figure 9.6, and identify the...

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