A cartel most likely forms in

A. an oligopolistic market.
B. a heavily regulated industry.
C. a perfectly competitive market.
D. a monopolistically competitive market.


Answer: A

Economics

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Answer the next question based on the following demand and cost data for a specific firm.Demand DataCost Data(1) Price(2) Price(3) QuantityTotal OutputTotal Cost$50$3522$4545303355402544703520559030156611525107714520588180If columns 1 and 3 are this firm's demand schedule, then economic profit will be

A. $70. B. $90. C. $80. D. $60.

Economics

If the MPC = 0.9 and a household obtains $20,000 more dollars then how much would the household spend of the additional $20,000?

A. $20,000 B. $2,500 C. $17,500 D. $18,000

Economics

Producer surplus is the

a. area under the supply curve to the left of the amount sold. b. amount a seller is paid minus the cost of production. c. area between the supply and demand curves, above the equilibrium price. d. cost to sellers of participating in a market.

Economics

Taxes create deadweight loss when they

a. distort behavior. b. cause the price of the product to increase. c. don't raise sufficient government revenue. d. cannot be computed easily.

Economics