Three firms agree to operate as a monopoly and charge the monopoly price of $40 for their product and (jointly)produce the monopoly quantity of 50,000 units. If the competitive price for the product is $35, under the Clayton Act these three firms face treble damages of _______.
A)$3,000,000
B)$750,000
C)$1,000,000
D)$250,000

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The Answer of Three firms agree to operate as a monopoly and charge the monopoly price of $40 for their product and (jointly)produce the monopoly quantity of 50,000 units. If the competitive price for the product is $35, under the Clayton Act these three firms face treble damages of _______.
A)$3,000,000
B)$750,000
C)$1,000,000
D)$250,000

Three Firms Agree to Operate as a Monopoly and Charge