Most countries:
A. protect cartels.
B. have laws against firms making agreements about prices or quantities.
C. protect oligopoly markets.
D. force monopolists to become duopolists.
B. have laws against firms making agreements about prices or quantities.
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To correct a nominal quantity for changes in the price level, one should:
A. multiply it by a price index. B. divide it by a price index. C. add a price index to it. D. subtract a price index from it.
Juanita has just started a business and is using her personal car to deliver goods. The use of her car is an example of
A) an explicit cost to the business. B) an implicit cost to the business. C) financial capital. D) interest.
The tradeoffs faced by a society can be illustrated in a graph known as the:
a. production operations curve. b. production cost curve. c. production cost model. d. production cost forecast curve. e. production possibilities curve.
Scalping is likely to appear when a price is set below equilibrium price by the seller.
Answer the following statement true (T) or false (F)