Which of the following would be most likely to contribute to the breakdown of a cartel in a natural resource (e.g., bauxite) market?

a. high prices
b. low price elasticity of demand
c. high compatibility of member interests
d. unequal member ownership of the natural resource


d

Economics

You might also like to view...

The economy is in its short run equilibrium at the point where the

A) price level is stable. B) SAS curve intersects the LAS curve. C) AD curve intersects the LAS curve. D) AD curve intersects the SAS curve.

Economics

The graph below represents the market for alfalfa. The equilibrium price is $7.00 per bushel, but the market price is $9.00 per bushel

Identify the areas representing consumer surplus, producer surplus, and deadweight loss at the equilibrium price of $7.00 and at the market price of $9.00.

Economics

The short-run Phillips curve will shift if there is

A) a change in inflation expectations. B) an increase in inflation that is unanticipated. C) an increase in the unemployment rate. D) a decrease in inflation that is unanticipated.

Economics

The Malthusian model emphasizes fixity in which of the following factors of production?

A) labor B) land C) energy D) none of the above

Economics