Mays's deviation from the collusive agreement causes the price of a can of beer to to $ per can. mays's profit is now $ , while mccovey's profit is now $ . therefore, you can conclude that total industry profit when mays increases its output beyond the collusive quantity.

Total Industry Profit Decreases

Explanation:

Complete question:

Part a & b

In pictures attached

Part c

Mays's deviation from the collusive agreement causes the price of a can of beer to (increase/decrease?) to $___________________  per can. Mays's profit is now $______________, while McCovey's profit is now $______________. Therefore, you can conclude that total industry profit (increases/decreases?)  when Mays increases its output beyond the collusive quantity.

Part a b and c

Monopoly outcome for both working together graph attached in third picture

for the remaining calculations

b) cartel output = 160

individual companies produce

80 cans = $0.60/cane

individual firm's daily profit = Q x (P - ATC) =

individual firm's daily profit=80 x $(0.6 - 0.4) = 80 x $0.2 = $16

Total profit = 2 x $16 = $32

(b) May deviates and increases output to 80 x 1.5 = 120 cans.

Total output = 120 + 80 = 200

Leading price of beer to Decrease to $0.55

May's profit = 120 x $(0.55 - 0.4)

May's profit= 120 x $0.15 = $18

McCovey's profit = 80 x $(0.55 - 0.4) = 80 x $0.15

McCovey's profit= $12

Total profit = $(18 + 12) = $30

therefore

Total Industry Profit Decreases

metallurgy is your answer

the "study of metals and the process of refining ("

note that it says metal. metallurgy has the word "metal" in it, and so is most likely your answer (and is your answer).

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b, fewer problems later! good luck