Which of the following is an obstacle that would reduce the likelihood of effective collusion among oligopolists?
a. a highly inelastic market demand for the product
b. a small number of firms in the market
c. production of a homogeneous product
d. highly unstable demand for the product
D
You might also like to view...
Whenever government spending is a substitute for private spending
A) interest rates will rise. B) the Ricardian equivalence theorem holds. C) the effects of expansionary fiscal policy are dampened. D) there is a direct multiplier effect.
Conventional economic theory assumes that people
a. care a great deal about fairness. b. are inconsistent over time in their decisionmaking. c. are rational. d. are satisficers.
Cost of doing what? Homeowners who make monthly mortgage payments are paying
What will be an ideal response?
Consider two points on a PPF: point A, at which there are 500 oranges and 100 apricots, and point B, at which there are 501 oranges and 95 apricots. If the economy is currently at point B, the opportunity cost of moving to point A is
What will be an ideal response?