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What Will the Price Be If Five Firms That Are

Question 37

Multiple Choice

What will the price be if five firms that are the only producers of a product form a cartel and charge a uniform price,if marginal costs are constant at $36 and the demand for the product is as follows? (Hint: MR = 100 - 4Q.)
What will the price be if five firms that are the only producers of a product form a cartel and charge a uniform price,if marginal costs are constant at $36 and the demand for the product is as follows? (Hint: MR = 100 - 4Q.)    A)  $70 B)  $68 C)  $66 D)  $64 E)  $62


A) $70
B) $68
C) $66
D) $64
E) $62

Correct Answer:

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