What would happen if greeks decided to charge manufacturers

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Reference no: EM13236541

Suppose that a certain manufacturer has a monopoly on the sorority and fraternity ring business (a constant-cost industry) because it has persuaded the "Greeks" to give it exclusive rights to their insignia.
a. Using demand and cost curves draw a diagram depicting the firm's profit-maximizing price and output level.

d. What would happen if the Greeks decided to charge the manufacturer a royalty fee of $3 per ring?

Reference no: EM13236541

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