Business, 20.03.2020 10:54 alyxkellar06

Suppose Hubert and Kate form a cartel and behave as a monopolist. The profit-maximizing price is $ per gallon, and the total output is gallons. As part of their cartel agreement, Hubert and Kate agree to split production equally. Therefore, Hubert's profit is $ , and Kate's profit is $ .

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Suppose Hubert and Kate form a cartel and behave as a monopolist. The profit-maximizing price is $ p...

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