Quantity and price

• Explain the effects of low price-guarantee on the price. (1.5 Marks)
• If a group of sellers could form a cartel, what quantity and price would they try to set? (1.5 Marks)
• What do you understand by discriminatory monopoly? Bring out the conditions that enables the monopoly firm to charge different prices for its product in different markets. (2 Marks)

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