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Suppose Acme and Mega produce and sell identical products and face zero marginal and average cost. Below is the market demand curve for their product. Suppose Acme and Mega decide to collude and work together as a monopolist with each firm producing half the quantity demanded by the market at the monopoly price. If Mega cheats on the agreement by reducing its price to $1 and Acme matches the price cut, then if consumers are evenly split between the two firms, Acme's economic profit will be ______.
U.S. Food and Drug Administration
A federal agency of the United States Department of Health and Human Services, responsible for protecting public health by ensuring the safety and efficacy of drugs, biological products, and medical devices.
Heartwise Cereal
A fictional or specific brand of cereal marketed for its cardiovascular health benefits.
Intestinal Health
A state of physical well-being related to the functioning of the gastrointestinal tract.
Ken's Salad Dressing
A brand of salad dressing and marinades created by Ken's Foods, known for its variety of flavors.
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