Under the cartel model, each firm produces where Group of answer choices marginal cost equals marginal...
Under the cartel model, each firm produces where
Group of answer choices
marginal cost equals marginal revenue.
price equals marginal cost.
the average cost curve is at a minimum.
price exceeds marginal cost by the greatest amount.
Homework Answers
Answer - Option D
Price exceeds marginal cost by greates amount
The cartels act just like the monopolies . They earn the positive economic profits and charge the maximum possible price above AC. They do not operate at minimum of AC , not do they produce at profit maximising level. Hence option D will be correct.
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