Refer to Table 14-2. For each firm, is there a better outcome than the current situation in which each firm charges the low price and earns a profit of $7,000?
A) Yes, the firms can implicitly collude and agree to charge a higher price.
B) Yes, each firm can implicitly agree to increase output and not to deviate from a low price.
C) No, there is no incentive for each firm to consider any other strategy.
D) No, any other strategy hurts consumers.
A
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Speculators in the financial market:
A. act as buyers only. B. act as sellers only. C. buy and sell assets for financial gain. D. reduces risk in financial markets.
If the normalization of trade relations between the U.S. and Cuba legalizes the sale of Cuban cigars in our country, it would
A. increase equilibrium price and decrease equilibrium quantity for Cuban cigars. B. decrease equilibrium price and increase equilibrium quantity for Cuban cigars. C. increase both the equilibrium price and quantity for Cuban cigars. D. decrease both the equilibrium price and quantity for Cuban cigars.
What function is money serving when you deposit money in a savings account?
A. A medium of exchange. B. A unit of account. C. A store of value. D. A checkable deposit.
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. For this economy to move from Point A to Point B, ________ additional OLED TVs could be produced when the production of LCD TVs is reduced by 30.
A. exactly 20 B. more than 20 C. fewer than 20 D. exactly 90