If oligopolists start cutting prices to capture a larger market share, the result will be
A. Lower prices, increased output, and smaller profits.
B. Lower prices, increased output, and larger profits.
C. Lower prices, decreased output, and larger profits.
D. Higher prices, increased output, and larger profits.
Answer: A
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Indicate whether the statement is true or false
Complements are characterized by:
A. negative cross-price elasticity of demand. B. positive cross-price elasticity of demand. C. cross-price elasticity of demand equal to zero. D. cross price elasticity of demand equal to -1.
As it relates to the political process, the principal-agent problem results from the:
A) negative externalities that are created by some policy actions. B) political rules that encourage elected officials to engage in unethical and illegal behaviour. C) paradox of voting. D)inconsistency between voters' interest in programs and politicians' interest in reelection. A
Which of the following indifference curves maximizes utility or satisfaction given the consumer's budget line for sodas and cookies? 
A. U1 B. U2 C. U3 D. U4