A collusive agreement to form a cartel is difficult to maintain because
A) each member firm can increase its own profits by cutting its price and selling more.
B) forming a cartel is legal but frowned upon throughout the world.
C) supply will decrease because of the high cartel price.
D) demanders will rebel once they realize a cartel has been formed.
E) each firm can increase its profit if it decreases its production even more than the decrease set by the cartel.
A
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All of the following are in-kind benefit programs, except
A. food stamps. B. Medicaid. C. energy assistance. D. SSI.
Which of the following will decrease the demand for labor in the fast-food hamburger industry?
a. a decrease in the cost of producing the hamburgers, e.g., lower wage rate b. the price of pizza, a substitute for hamburgers, decreases c. the price of pizza, a substitute for hamburgers, increases d. more advanced technology is used in making fast-food hamburgers e. the price of hamburgers increases
Refer to the accompanying figure. If this restaurant goes from producing 20 to 25 pizzas per hour, then which of the following statements is true?
A. It has to give up exactly 25 salads. B. It has to give up exactly 12.5 salads. C. It has to give up more than 12.5 salads. D. It has to give up fewer than 12.5 salads.
Open market operations are conducted by the Fed
A. in the New York Stock Exchange. B. through the Bureau of Engraving. C. through the Washington location of the Federal Reserve's Bank of Governors. D. in the private secondary U.S. securities market.