Suppose 100 identical firms produce in an initial, Business Economics

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Suppose 100 identical firms produce in an initial

Suppose 100 identical firms produce in an initial competitive market: P=10-Q/200 and P=1+Q/200

1. Find the competitive equilibrium price, industry output, and firm output

2. If they form a cartel what would be the profit maximizing output and price.

What production quota would be assigned to each firm

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Business Economics: Suppose 100 identical firms produce in an initial

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Business Economics: Suppose 100 identical firms produce in an initial

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