Which of the Following Is Likely to Occur If Two

question 70

Multiple Choice

Which of the following is likely to occur if two firms in a duopoly market decide to collude and produce the same output and charge the same price?

• A)Each firm will receive twice the profit they earned before the agreement.
• B)Together the firms will produce less than the monopoly output.
• C)Each firm will receive exactly half of the monopoly profit.
• D)None of the firms will have an incentive to charge a lower price.

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Definitions:

Purchasing Part

The process or activity involved in acquiring materials, components, or parts necessary for production or operation.

Fixed Manufacturing Overhead

The consistent, periodic expenses that a manufacturing company incurs, regardless of the level of production, such as equipment depreciation and facility rent.

Variable Manufacturing Cost

Costs that vary directly with the level of production output, such as materials and direct labor.

Unit Product Cost

The overall expense incurred in manufacturing a single product unit, encompassing material, workforce, and indirect costs.