Economists would describe cartels as
a. the opposite of ignoring interdependence.
b. a collusive arrangement.
c. an undesirable form of market organization that may charge a monopoly price.
d. All of the above are correct.
d
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The figure above shows Sam's budget line. Which of the following formulas represents Sam's budget equation?
A) $60.00 = $1.50/Qg + $3.00/Qc B) $60.00 = Qg /$1.50 + Qc /$3.00 C) $60.00 = $1.50(Qg) + $3.00(Qc) D) $60.00 = $1.50(Qg) - $3.00(Qc)
The stockholder-lender conflict generally becomes greater
A) the smaller the firm. B) the larger the firm. C) the more the firm borrows from banks. D) the less the firm borrows from banks.
In the basic Keynesian model, the major determinant of consumption expenditures is:
a. the interest rate. b. inflation. c. investment. d. disposable income.
A price floor above the market clearing price typically results in I. an excess quantity supplied II. a shortage III. an excess quantity demand
A) I only B) II only C) III only D) II and III only