The table below shows the monthly demand schedule for a good in a duopoly market. The...
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The table below shows the monthly demand schedule for a good in a duopoly market. The two producers in this market each face $5,000 of fixed costs per month. There are no marginal costs. Quantity 400 600 800 1,000 1,200 1,400 1,600 30 Price ($) 25 20 15 10 5 0 TR ($) 12,000 15,000 16,000 15,000 12,000 7,000 0 MR ($) 3,000 1,000 1,000 3,000 5,000 7,000 Instructions: Enter your answers to the nearest whole number. a. If they evenly split the quantity a monopolist would produce, the monthly profit for each duopolist is $ b. If duopolist A decides to increase production by 200 units, the monthly profit for duopolist A is $ and for duopolist B $
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Step 1 a Both duopolist combined and now acts as monopolist In absence of marginal cost acting View the full answer
Related Book For
Elementary Statistics A step by step approach
ISBN: 9780073386102
8th edition
Authors: Allan Bluman
Posted Date:
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