When the price of wheat increases, the producers of bread will supply more bread at each price
Indicate whether the statement is true or false
false
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The market for bagels contains two firms: BagelWorld (BW) and Bagels'R'Us (BRU). The owners of the two firms decide to fix the price of bagels. The table below shows how each firm's profit (in dollars) depends on whether they abide by the agreement or cheat on the agreement. 
In the Nash equilibrium of this game:
A. both firms cheat on the agreement B. Bagel World cheats and Bagels 'R' Us abides C. Bagel World abides and Bagels 'R' Us cheats D. both firms abide by the agreement
When the ratio of domestic prices to foreign prices rises:
A) the real exchange rate depreciates. B) the real exchange rate appreciates only when the nominal exchange rate appreciates. C) the real exchange rate appreciates only when the nominal exchange rate depreciates. D) the real exchange rate appreciates even when the nominal exchange rate is constant.
Private solutions to the problem of externalities are most likely when
A) transactions costs are low and the number of bargaining parties is small. B) transactions costs are low and the monetary damages to third parties are high. C) government actively encourages these solutions. D) transactions costs are low and the number of bargaining parties is large.
Which of the following cases established that the mere possession of monopoly power violated antitrust laws?
A. IBM case of 1982 B. Microsoft case of 1998 C. Alcoa case of 1945 D. AT&T case of 1982