Question #49548

Suppose that the firms collude and become a cartel The best level of output for the cartel as a whole is ___________ the price equals __________ and profits total __________?


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Answer: Suppose that the firms collude and become a cartel The best level of output for the cartel as a whole is 4 million barrels per day, , 0 million the price equals 4 million barrels per day, , 0 million and profits total 4 million barrels per day, , 0 million.

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