Which of the following is LEAST likely to be an outcome of a cartel as compared to the situation before the cartel was formed?
A) Cartel members charge higher prices.
B) Cartel members reduce production.
C) Cartel members make fewer profits.
D) Cartel members do not compete with each other in pricing decisions.
C
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Why does the presence of negative externalities in the production of a good lead to an overproduction of the good?
What will be an ideal response?
When do the staggered terms of the Federal Reserve governors expire?
a. January 31 of every odd year b. January 31 of every even year c. December 31 of every odd year d. December 31 of every even year
A ray through the origin always has a slope of one.
Answer the following statement true (T) or false (F)
Pookie's Pool Cleaning Service uses only one variable input, chlorine. Pookie?s ________ curve for chlorine in the short run is the input?s marginal revenue product curve.
A. total product B. supply C. demand D. marginal product