Collusion is a key type of cooperation for
A. maximizing revenue.
B. monopolistic competition.
C. becoming a monopoly.
D. cartels.
Answer: D
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If the MPC = 0.9, the multiplier would be
A) 0.1. B) 2. C) 9. D) 10.
The fact that people with higher incomes get to consume more goods and services addresses the ________ part of one of the two big economic questions
A) "for whom" B) "when" C) "where" D) "how"
The income elasticity of demand for agricultural products is typically
a. less than zero. b. greater than zero, but less than one. c. greater than one. d. infinity.
If consumption of a good creates positive externalities, then
a. the market will under produce it b. the market will over produce it c. the market must be perfectly competitive d. the market must be constrained by barriers to entry e. the market will produce the most efficient quantity