Collusive arrangements tend to collapse when
a. there is a small number of sellers
b. the benefits of cheating are great and the costs are low
c. inflation is high
d. interest rates are low
e. there is a powerful price leader
B
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Using the data in the above table, what is the marginal product of the second worker?
A) 4.5 pizzas per hour B) 4 pizzas per hour C) 5 pizzas per hour D) The marginal product is undefined.
An increase in fixed cost will, in the long run, alter the industry output of
a. both a monopolist and a competitive industry. b. only a monopolist. c. only a competitive industry. d. neither a monopolist nor a competitive industry.
If the real interest rate rises, the quantity of investment demanded:
A. will fall. B. will not change. C. will rise. D. could rise or fall.
A ballet performance had many empty seats. This implies that the
A. Price of the tickets must have been above the equilibrium price. B. Price of the tickets must have been very low because of the low demand. C. Hall where the performance was being held was very large. D. Ballet group was not very well known.