The following is not associated with bid-rigging
a. bid-riggers bidding their true value
b. "knockout" auctions
c. bid rotations
d. amnesty to the first conspirator willing to testify against fellow conspirators
a
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The marginal cost curve intersects:
A) the total cost curve at its minimum. B) the average fixed cost curve at its maximum. C) the average fixed cost curve at its minimum. D) both the average variable cost curve and the average total cost curve at their minimum.
Which of the following is a microeconomics topic?
a. the price of a new home b. the inflation rate c. the economy's growth rate d. the unemployment rate e. forecasts of recession
Some people argue that to prevent continued dependence on foreign oil, the United States should restrict imports of foreign oil and increase domestic production. What effects would such trade restrictions have on the market for oil in the United States?
What will be an ideal response?
When a firm in a competitive market is earning profits, this indicates that the firm is
a. exploiting consumers. b. increasing the value of resources. c. blocking the entry of competing firms. d. reducing overall wealth in the market.