An increase in which of the following factors does not increase the incentive to cheat within a cartel?
A. the number of firms in the cartel
B. economic performance and industry sales
C. the cost-differences among firms
D. the number of potential entrants into the industry
Answer: B
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America’s antitrust laws are used to protect competition against possible encroachment by monopoly. This is an example of government as
A. regulator of businesses. B. buyer of goods and services. C. tax collector. D. redistributor.
One year before maturity, the price of a bond with a principal amount of $1,000 and a coupon rate of 5% paid annually fell to $981. The one-year interest rate must be:
A. 8.5%. B. 5.0%. C. 7.0%. D. 1.9%.
Maria wishes to buy gasoline and have her car washed. She finds that if she buys 9 gallons of gasoline at $2.50 per gallon, the car wash costs $2, but if she buys 10 gallons of gasoline, the car wash is free. For Maria, the marginal cost of the tenth gallon of gasoline is
A) $2.50. B) zero. C) $2.00. D) 50 cents.
Exhibit 5-7 Demand curve for concert tickets
?
According to Exhibit 5-7, the demand for concert tickets between the prices of $10 and $40 is:
A. inelastic. B. elastic. C. unitary elastic D. perfectly elastic.