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Business, 17.07.2019 13:00 lesleyy7278

If an industry consisting of two firms produces a total of 12 units, the market price is $10. if 13 units are produced, the price falls to $9. suppose the two firms form a cartel and agree to produce 6 units each. if one firm cheats and produces 7 units, the cheating firm's revenue rises by and the noncheating firm's revenue falls by $3; $12 $6; $12 $6; $6 $3; $6

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If an industry consisting of two firms produces a total of 12 units, the market price is $10. if 13...
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