a. ........ 12
b. ........ $7
To answer questions involving a monopsony or a buyers' cartel, draw the ME curve.
c. ........ 10
d. ........ $6
e. ........ 20
f. ....... $11
g. ........ 10
h. ........ 10
i. ........ 14
j. ........ $8
To find the quota assigned to each league, draw the horizontal MARGE line. MARGE = $15, where $15 is the price coordinate of the point where TOTAL DEMAND and ME cross.
k. ......... 8
l. ......... 6
M. SEE FIGURE