Homework Answers
36. Ans - d) collusion
Explanation;
When firm come together and agree on price and output it is called collusion by definition. This is common practice in oligopoly market.
37. Ans - d) 4 and 5 per unit
Explanation:
As MR = 1000 ( at all level of output, according to the table) and to maximize profit firm must produce where MR = MC
And MC = 1000 when firm increas output from 4 to 5. So ans is D)
38. Ans - a) $1400
Explanation:
Owner of asset earn = 20,000*7% = 1400
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