A group of firms that try to work together to earn monopoly profits is called a(n)
A) patent.
B) public enterprise.
C) cartel.
D) natural monopoly.
C
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The assumption that people may choose to hold excess money balances when there is an increase in the money supply is emphasized by
A) supply-side economists. B) Monetarists. C) Keynesians. D) rational expectations theorists.
If a firm in an industry experiences very high fixed costs and constant marginal cost, it is a good candidate for a natural monopoly
Indicate whether the statement is true or false
Which of the following statements is TRUE?
A) The long-run aggregate supply curve is upward sloping. B) The long-run aggregate demand curve is upward sloping. C) The short-run aggregate supply curve is vertical. D) The long-run aggregate supply curve is vertical.
For a moving company, all of the following are examples of variable costs, except
a. Gasoline costs b. Truck rents c. Marketing costs d. None of the above