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Physics, 27.04.2020 03:15 liv696

3. Breakdown of a cartel agreement

Consider a town in which only two residents, Alex and Becky, own wells that produce water safe for drinking. Alex and Becky can pump and sell as much water as they want at no cost. For them, total revenue equals profit. The following table shows the town's demand schedule for water.

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3. Breakdown of a cartel agreement

Consider a town in which only two residents, Alex and...
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