The figure given below represents the output choices of each of the two oligopolists, given the choices of its competitor.QA and QB are the quantities of output produced by Producer A and Producer B.The marginal cost of production is zero for both producers.
-Refer to Figure .If the two producers agree to act as a single monopoly firm, what will be the total output produced in the economy?
Definitions:
Labour Cost
The total expense incurred for hiring employees, including wages, benefits, and taxes.
Labour Efficiency Variance
A cost management tool used to measure the difference between the actual labor hours used and the standard labor hours expected to produce a certain level of output.
Direct Labour Standard
A benchmark for the amount of work (measured in labor hours or costs) expected to produce a certain quantity of goods.
Uncontrollable Costs
Costs that cannot be influenced or controlled by a manager under normal circumstances.
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