Explain how do you run an oligopoly to make the largest

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Reference no: EM1363457

Oligopoly

How do you run an oligopoly to make the largest possible profit?

1. MC=AC=$10

last year industry output = 60, price = 40
submits the output level.

4. I will tell you what the industry price results profit maximizing output would be (cartel solution) Q=45 p=55. This is for the sum of the six firms.

5.You calculate your profit

6. You will repeat this process for rounds 4

7. The oligopolistic producer of this vehicle failed to heed market signals. It failed. Can you name the company?

Reference no: EM1363457

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