Collusion among oligopolists would generally be easiest to achieve in which of the following situations?
a. very few producers, producing differentiated products
b. very few producers, producing homogeneous products.
c. a larger number of producers, producing differentiated products.
d. a larger number of producers, producing homogeneous products.
b
You might also like to view...
Traditionally, the Fed often communicated its intentions to restrict or expand monetary policy by announcing a change in its target for the ________.
A. consumer price index B. discount rate C. prime rate D. federal funds rate
To operate efficiently, an economy generally "needs" ________ unemployment
A) structural B) cyclical C) seasonal D) frictional
Refer to Figure 13-2. Ceteris paribus, an increase in the expected price of an important natural resource would be represented by a movement from
A) SRAS1 to SRAS2. B) SRAS2 to SRAS1. C) point A to point B. D) point B to point A.
Typically, the higher the level of income per person in a country, the higher the level of spending per person on health care. This relationship between income and spending indicates that health care is a
A) inferior good. B) necessity. C) normal good. D) luxury.