A member in a cartel can earn more profits by
A. selling less than the agreed amount.
B. charging a slightly lower price and raising production.
C. producing less than the agreed rate.
D. none of these.
Answer: B
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According to recent study, air pollution on average is greater outdoors than indoors
Indicate whether the statement is true or false
The winner in a first-price sealed-bid auction pays an amount equal to ________
A) his bid B) the second-highest bid C) half of his bid D) the lowest bid
In September 2014, the labor force participation rate fell from 62.8 percent to 62.7 percent. This change could have been caused by
A) unemployed workers giving up looking for a job. B) full-time workers becoming part-time workers. C) unemployed workers getting full-time jobs. D) discouraged workers starting to look for jobs again.
When the price of milk rose 50 percent, the quantity of milk sold fell 25 percent and the sale of breakfast cereals also fell 25 percent. This set of facts indicates that the
A) demand for milk is price elastic. B) demand for breakfast cereals is price elastic. C) cross elasticity between milk and cereal is negative so the two are complements. D) cross elasticity between milk and cereal is positive so the two are complements.