Quick Buck and Pushy Sales Produce and Sell Identical Products

question 29

Multiple Choice

Quick Buck and Pushy Sales produce and sell identical products and face zero marginal and average cost. Below is the market demand curve for their product. If Quick Buck and Pushy Sales decide to collude and work together as a monopolist with each firm producing half the quantity demanded by the market at the monopoly price, then what will be Quick Buck's economic profit?

• A)$1,000
• B)$2,000
• C)$3,000
• D)$4,000

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Definitions:

Initiating Structure

An aspect of leadership that consists of organizing work, defining role responsibilities, and scheduling work activities.

Work Scheduling

Work Scheduling involves creating and managing a plan that outlines when tasks or shifts are to be performed by employees, ensuring efficient operation and meeting organizational needs.

Assigning Tasks

The process of distributing or allocating specific duties or activities to individuals or groups within an organization to achieve certain objectives.

Leadership Style

The characteristic manner and approach of providing direction, implementing plans, and motivating people.