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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. Suppose 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. If Quick Buck cheats by reducing its price to $1 while Pushy Sales continues to comply with the collusive agreement, then Quick Buck's economic profit will be ______.
Labor Force
The total number of people available to work, including both the employed and the unemployed who are seeking employment.
First-Cousin Marriage Prohibitions
Laws or social norms that forbid marriage between first cousins to prevent genetic disorders.
United States
A country in North America composed of 50 states, a federal district, and various territories, known for its high standard of living and significant global influence.
19th Century
The period from 1801 to 1900, marked by significant industrial, cultural, and political changes worldwide.
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