Under the cartel, the individual firm's economic profit is (assuming it obeys its quota) 
Figure 42.2
A. zero.
B. the larger of the dashed-line boxes.
C. the smaller of the dashed-line boxes.
D. between the size of the two dashed-line boxes.
Answer: C
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Use the aggregate expenditures model and the following values to answer the next question.AMPCIGT$3500.75$400$400$200Determine equilibrium real GDP for this economy.
A. $4,600 B. $5,400 C. $3,800 D. $4,000
What would be an example of a consumption service?
A) Jake buys an iPhone. B) The local driver's license office purchases a new digital camera and printer. C) Rhianna gets a haircut. D) Donald Trump purchases furniture for his office. E) Antonio, the manager of the local Taco Hut, purchases a new deep fryer.
An investor who bases the decision to buy an asset solely on the expected return of an asset is considered to be:
A) risk loving B) risk averse C) risk neutral D) risk avoiding
An oligopolist who sets the price for the industry is a price leader
a. True b. False Indicate whether the statement is true or false