Business, 25.10.2021 15:10, oscard1627

The table shows the demand curve for monster trucks. There are two monster truck producers. For simplicity, assume that the cost of producing a monster truck is zero. ( AC=0 , FC=0
)

Q demandedPrice
1
$18

2
$16

3
$14

4
$12

5
$10

6
$9

7
$7

8
$6

9
$5

Assume the two producers initially collude to maximize profits, splitting production and profits evenly.

What price will they charge?
$

What is the total quantity produced?

monster trucks

What are the profits for each firm?
$

If one of the producers produces an extra unit to get higher profits, what is the new market price?
$

What are the profits for this firm when it breaks the agreement?
$

What are the other firm's profits after the agreement is broken?
$

Answers: 3

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The table shows the demand curve for monster trucks. There are two monster truck producers. For simp...