Cartels usually succumb to divisive forces caused by
A. limited information.
B. members cheating by giving secret discounts.
C. entry by new rivals seeking profits.
D. insufficient profits compared to independent operations.
Answer: B
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Refer to Table 3-2. The table above shows the demand schedules for caviar of two individuals (Ari and Sonia) and the rest of the market. At a price of $75, the quantity demanded in the market would be
A) 6 oz. B) 46 oz. C) 52 oz. D) 127 oz.
Even small differences in annual growth rates matter because ______.
a. considerable sums of money are involved b. they provide key indicators for the future c. governments use them to set tax rates d. differences are compounded over time
The realization that only a small portion of criminals commit the majority of crimes suggests that, as you devote more resources to the criminal justice system, the
A. marginal benefit quickly increases. B. marginal cost sharply increases. C. total cost always decreases. D. total benefit quickly decreases.
Which of the following statements about dumping is true?
A. Dumping helps to improve the importing country's terms of trade. B. Predatory dumping occurs quite frequently in modern markets. C. Consumers and import-competing producers in the importing country are both hurt by dumping. D. Logically, an import country should never allow seasonal and introductory-price dumping.