Which constitutes an obstacle to collusion among oligopolists?
A. A standardized product.
B. Trademarks and copyrights.
C. A large number of firms.
D. Prosperous economic conditions.
Answer: C
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The price that represents the shutdown point for a perfectly competitive firm is the
a. highest point on the marginal cost curve b. lowest point on the marginal cost curve c. highest point on the average variable cost curve d. lowest point on the average variable cost curve e. lowest point on the average total cost curve
In general, the IMF provides developing countries with:
A. loans and lets these countries decide how the loans will be used. B. technical advice but does not provide them with loans. C. loans, but only if the government adopts certain policies specified by the IMF in return. D. neither loans nor technical advice.
In the Aggregate Demand - Aggregate Supply diagram in Figure 8.1, Box 5 should be filled with 
A. PI* for macroeconomic equilibrium Price Index. B. RGDP* for macroeconomic equilibrium Real Gross Domestic Product. C. AD for Aggregate Demand. D. AS for Aggregate Supply.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, an increase in unemployment may be represented by the movement from
A. B to A. B. A to C. C. C to D. D. B to D.