Cartels rarely succeed for long because they find it difficult to
A) avoid losing the advantages from economics of scale.
B) keep marginal costs high and marginal revenue low.
C) keep members from offering discounts and new firms from entering.
D) keep members from reducing output below the optimal level.
E) prevent average cost from falling below marginal cost.
C
You might also like to view...
All else equal, increases in proprietors' income will ________.
A. increase wages B. increase exports C. increase profits and losses D. increase gross investment
Refer to Figure 11-4. The movement from E to B to D in the figure above illustrates
A) diminishing returns to capital. B) an improvement in technology. C) diminishing returns to labor. D) a decline in capital per worker.
Bank panics have largely disappeared in the United States because
A) banks are now required to hold a larger fraction of deposits as reserves. B) of low interest rates. C) bank loans are more closely monitored by the Federal Reserve. D) of deposit insurance.
The demand schedule shows that the price of a good and quantity demanded are directly related to each other
a. True b. False Indicate whether the statement is true or false