Cartels engage in price fixing in order to:
A. drive out competition.
B. retain customers.
C. increase profits.
D. promote entry.
Answer: C
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The order of Soviet dictator Joseph Stalin to farmers in the 1930s to produce capital equipment rather than food
a. was based on government support payments for agriculture. b. relied on foreign assistance. c. was an illustration of the capital formation method. d. was an illustration of the brute force method of breaking the poverty cycle, and it was a very successful policy. e. was an illustration of the brute force method of breaking the poverty cycle, and it meant starvation for millions of farmers.
What is fiat money? Why is fiat money important in the United States today?
Which of the following is a bank liability?
A. Reserve deposits at the Fed. B. Loans made to customers. C. Transactions account balances. D. Securities the bank has purchased.
If a small firm wishes to pay cash in one year for a $10,000 machine, how much must the firm currently place in savings at 5 percent in order to have the necessary total cash in one year?
What will be an ideal response?