OPEC provides an example of:
A. an unwritten, informal understanding.
B. an international cartel.
C. a monopolistically competitive industry.
D. noncollusive oligopoly.
Answer: B
Economics
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The figure above shows the demand and cost curves for a single-price monopoly. The firm will produce ________ units and set a price of ________ per unit
A) 15; $20 B) 10; $20 C) 10; $30 D) None of the above answers is correct.
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If average total cost is rising
A) marginal cost is above average total cost. B) marginal cost is rising. C) marginal product is rising. D) marginal cost is above average total cost and is falling.
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Black Market
What will be an ideal response?
Economics
Every country in the world has an independent central bank.
Answer the following statement true (T) or false (F)
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