Quiz6[Fall_2014-2015] - Quiz 6(A ECO 201 Principles of...

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Quiz 6 (A) ECO 201 Principles of Microeconomics, Fall 2014 Name:_______________________________ I.D:_____________________________ Use the following information to answer questions 1 to 3: Quest Company and Panama Company produce and sell identical products and face zero marginal and average cost. Below is the market demand curve for the product: 1. Refer to the figure above. If Quest and Panama decide to collude and work as a pure monopolist such that each firm produces half the quantity demanded by the market, what will be the profit- maximizing price and total output?
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