One of the fundamental problems a cartel faces is
A) to determine how much each producer will decrease its output.
B) to determine how much each producer will increase its output.
C) to determine how much each producer will lower it price.
D) to determine how much each producer will lower its profit.
Answer: A
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Use the following table to answer the question below.Alexandra's Production Possibilities ScheduleNatalia's Production Possibilities ScheduleNumber of Scarfs Knitted per dayNumber of Sweaters Knitted per dayNumber of Scarfs Knitted per hourNumber of Sweaters Knitted per hour040433236242916112080Which of the following is an acceptable term of trade?
A. 4 scarves for 2 sweaters B. 6 scarves for 1 sweater C. 2 scarves for 2 sweaters D. 10 scarves for 3 sweaters
Suppose the price of a DVD rose from $15 to $17 and the quantity demanded decreased from 1,000 per month to 900 per month. Using the midpoint formula, the ________ percent change in price led to a ________ percent change in the quantity demanded
A) 12.5; 10.5 B) 13.3; 10.0 C) 11.8; 11.1 D) 8.0; 9.5 E) None of the above answers is correct.
An increase in the real interest rate causes
A) the IS curve to shift to the right. B) the IS curve to shift to the left. C) a movement up the IS curve. D) a movement down the IS curve.
Using the expenditure method to estimate GDP, we would include:
A. consumption, investment, government purchases, and net exports. B. consumption, government revenues, durable goods, and net exports. C. consumption, investment, government purchases, and exports. D. consumption, investment, government purchases, and imports.