Which of the following actions should be discussed with an attorney before undertaking as the action could be considered legal?
A) an agreement with a competitor firm to set prices
B) an agreement with a competitor firm to not sell to a particular customer
C) an agreement with a competitor firm to adjust output levels
D) an agreement with a customer about the resale price the customer will charge for the product
D) an agreement with a customer about the resale price the customer will charge for the product
You might also like to view...
If the economy is producing at point B, the opportunity cost of gaining 12 units of consumer goods is _______ units of capital goods.
The tax multiplier is smaller in absolute value than the government purchases multiplier because some portion of the
A) decrease in taxes will be saved by households and not spent, and some portion will be spent on imported goods. B) decrease in taxes will be saved by households and not spent, and some portion will be spent on consumer durable goods. C) increase in government purchases will be saved by households and not spent, and some portion will be spent on imported goods. D) increase in government purchases will be saved by households and not spent, and some portion will be spent on consumer durable goods.
“Purely competitive firms sell their product at the same price. This is also true in some monopolistic markets with standardized products. Therefore, these oligopolies are actually highly competitive.” Evaluate critically
What will be an ideal response?
Economists reason that the optimal decision is to continue any activity up to the point where the
A) marginal benefit is zero. B) marginal benefit is greater than the marginal cost. C) marginal cost is zero. D) marginal benefit equals the marginal cost.