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
You might also like to view...
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.
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
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.
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.