Compared to a cartel, firms in a Cournot Oligopoly
A) make more joint profit.
B) sell less output.
C) make less joint profit.
D) act independently.
C
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Suppose some firms exit an industry characterized by monopolistic competition. We would expect the demand curve of a firm already in the industry to
A. shift to the right. B. shift to the left. C. become less elastic. D. remain the same since entering firms serve other customers in the market.
The productivity growth rates of poorer countries tend to be ____ than those of richer countries
a. higher b. lower c. increasing slower d. decreasing faster
The purpose of an initial public offering is to
A. Borrow funds for investment and growth. B. See if there is a demand for a company's new product. C. Raise funds for investment and growth by selling shares of the company to the public. D. Change the membership of the board of directors.
Credit cards
a. defer payments. b. are a store of value. c. have led to wider use of currency. d. are part of the money supply.