Firms engage in tacit collusion when:
A. they predict what the other will do and attempt to undercut them.
B. they collude without communicating, sustaining a price above the noncooperative price that would arise in a single competitive interaction.
C. they communicate to reach an agreement about the prices they will charge.
D. they communicate what type of good they will produce.
B. they collude without communicating, sustaining a price above the noncooperative price that would arise in a single competitive interaction.
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One of the opportunity costs of economic growth is
A) capital accumulation. B) technological change. C) reduced current consumption. D) the gain in future consumption.
How would you evaluate the quality of this equation overall? Do you have any concerns? Explain
What will be an ideal response?
Marginal utility is best computed as the ratio of:
a. total utility to change in quantity consumed. b. the change in total utility to total quantity consumed. c. total quantity consumed to total utility. d. the change in total utility to change in quantity consumed.
Demand-pull inflation is associated with a(n)
a. decrease in the aggregate supply curve b. increase in the aggregate supply curve c. increase in the aggregate demand curve d. decrease in the aggregate demand curve e. decline in the availability of a productive resource