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Blank 1: 3.00
Blank 2: 270
blank 4: 405
Blank 5: decreases
Blank 6: 2.50
Blank 7: 450 (2.5*(135+45))
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Blank 8: 337.50 (2.5*135)
Blank 9: 360
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Q: Consider a town in which only two residents, Larry and Megan, own wells that produce water safe for drinking. Larry
and Megan can pump and sell as much water as they want at no cost. For them, total revenue equals profit. The
following table shows the town's demand schedule for waten Quantity Demanded (Gallons of water) Price (Dollars
per gallon) 6.00 5.50 5.00 4.50 4.00 3.50 3.00...
Q: 9. Breakdown of a cartel agreement Consider a town in which only two residents, Eric and Ginny, own wells that
produce water safe for drinking. Eric and Ginny can pump and sell as much water as they want at no cost. For them,
total revenue equals profit. The following table shows the town's demand schedule for water Price (Dollars per
gallon) 3.60 3.30 3.00 2.70 2.40 2.10 1.80 1.5...
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Q: Consider a town in which only two residents, Andrew and Beth, own wells that produce water safe for drinking.
Andrew and Beth can pump and sell as much water as they want at no cost. For them, total revenue equals profit.
The following table shows the town's demand schedule for water. Quantity Demanded (Gallons of water) Total
Revenue (Dollars) Price (Dollars per gallon) 5.40 4.9...
Show more
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