The practice of a group of firms negotiating a uniform price and fixing agreed-upon market share in order to limit competition is
a. legal in all states but illegal in Washington, D.C.
b. called conglomerate behavior
c. seldom successful because entry into the industry cannot be denied
d. called collusion
e. less profitable for each firm than maximizing profit individually
D
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Which of the following is a positive statement? a. Increased money supply growth will lead to a higher rate of inflation
b. There are more millionaires in Uganda than in the United States. c. People watch more TV during finals week than during the rest of the term. d. All of the above are positive statements.
A decrease in the interest rate reduces the opportunity cost of holding money
a. True b. False
If protective import-restricting quotas are imposed by a country, in the majority of cases that nation's consumers end up
A. consuming more of the good than they otherwise would. B. paying a lower price for the good than they otherwise would. C. having more consumption choices than they otherwise would. D. consuming less of the good than they otherwise would.
Give two examples of legal actions against price fixing among firms
What will be an ideal response?