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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Ответ:
$3; $6
The two firms formed a cartel which means they agree to produce same with the purpose of maintaining prices at a high level and restricting competition. In the case of two firms who agree on producing 6 units but one cheat, this will be the effect:
At 6 units each, and a market price of $10, each firm will have a gross sale of $60. If one cheats and produced 7, the market price will fall to $9, resulting to $63 (7*9) and a gain of $3. The noncheating firm will acquire a sale of $54 (6*9) only or a loss of $6. The answer is $3; $6.Ответ:
Peter seems to be building a historical or past sales method to forecast future sales. In this model, you use past sales data to determine what the average sales have been for certain periods and use that number to forecast predicted sales for the same time period for the current year.