Even when allowed to collude, firms in an oligopoly may choose to cheat on their agreements with the rest of the cartel. Why?
Individual profits can be increased at the expense of group profits if individuals cheat on the cartel's cooperative agreement.
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Let C = 300 + 0.75y and I = 200. Assume no government or foreign sectors. Investment needs to decrease by ________ to decrease equilibrium output by a total of $750
A) $75 B) $100 C) $150 D) $187.50
The production possibility table below is for growing broccoli and asparagus in a 320-square-foot garden in one season.Production PossibilityBroccoliAsparagus30020181026030 
Which curve on the graph on the right corresponds to this table?
A. I B. II C. III D. IV
If the dollar depreciates, it will cause ______.
a. an increase in exports and a decrease in imports b. a decrease in exports and an increase in imports c. a decrease in both imports and exports d. an increase in both imports and exports
Which of the following statements explains the difference between diminishing returns and diseconomies of scale?
A) Diminishing returns are the result of changes in explicit costs. Diseconomies of scale are the result of changes in explicit costs and implicit costs. B) Diminishing returns refer to production while diseconomies of scale refer to costs. C) Diminishing returns cause a firm's marginal cost curve to rise; diseconomies of scale cause a firm's marginal cost curve to fall. D) Diminishing returns apply only to the short run; diseconomies of scale apply only in the long run.