Using the scenario above why might the results be different for small classes compared to large classes?
What will be an ideal response?
Larger classes make collusion much more difficult to manage successfully. In a smaller class there is less leg work to pull it off.
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The colonies as a whole had a significant commodity trade deficit with England. In order to finance this deficit the colonies relied on all of the following sources of income except
a. a commodity trade surplus with Southern Europe. b. the sale of colonial shipping services. c. mining of gold and silver that were used to make Colonial coins. d. British government spending in the colonies.
During a period of stagflation, should more emphasis be placed on reducing unemployment or on lowering the rate of inflation?
What will be an ideal response?
Marx's notion that societies go through inevitable stages of evolution is called:
a. Surplus value b. Dialectical materialism c. The socialist revolution d. Primitive capitalist accumulation e. All of the above
As compared to the basic Nash-Cournot equilibrium for duopolists where the firms face the same market demand curve and have identical costs, in the situation where the firms produce products which are viewed by consumers as not being identical,
A) there will generally be different prices charged by the two firms. B) there will generally be different quantities produced by the two firms. C) one or both of the firms may practice spurious differentiation. D) All of the above.