On the planet Economus,the demand for Kryptonite is: There are four producers of Kryptonite on the planet who have formed a Kryptonite Cartel.The resulting marginal revenue function for the cartel is: The marginal costs for producing Kryptonite for the 4 different producers are: = q₁, = 1.5q₂, = 2q₃, = 2.5q₄.
Determine the Cartel profit maximization output levels of each producer.If producer #2 cheats and produces 50% more than their collusive output level,determine their new revenue level.

Question

On the planet Economus,the demand for Kryptonite is:

There are four producers of Kryptonite on the planet who have formed a Kryptonite Cartel.The resulting marginal revenue function for the cartel is:

The marginal costs for producing Kryptonite for the 4 different producers are:

= q₁,

= 1.5q₂,

= 2q₃,

= 2.5q₄.
Determine the Cartel profit maximization output levels of each producer.If producer #2 cheats and produces 50% more than their collusive output level,determine their new revenue level.

Quizplus · Accepted Answer

The Answer of On the planet Economus,the demand for Kryptonite is: There are four producers of Kryptonite on the planet who have formed a Kryptonite Cartel.The resulting marginal revenue function for the cartel is: The marginal costs for producing Kryptonite for the 4 different producers are: = q₁, = 1.5q₂, = 2q₃, = 2.5q₄. Determine the Cartel profit maximization output levels of each producer.If producer #2 cheats and produces 50% more than their collusive output level,determine their new revenue level.

On the Planet Economus,the Demand for Kryptonite Is: There