A cartel is a group of firms that ________ to make price and output decisions.
A. explicitly colludes
B. implicitly colludes
C. act independently
D. are unable
Answer: A
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Jack just told his boss that he thinks his boss is an idiot. It is likely that Jack will be experiencing ________ unemployment in the near future
A) cyclical B) structural C) frictional D) permanent
Moody's Investors Service is able to make a profit because
A) most investors are irrational. B) of the existence of adverse selection problems. C) fluctuations in interest rates make default risk on corporate bonds difficult to gauge. D) small investors like the mutual funds they sell.
If laundry detergent companies are in an agreement, this is an example of a ________ agreement.
A) treble B) vertical C) horizontal D) triple-threat
If the production possibilities curve is a straight line: a. opportunity costs increase as output of either commodity is expanded
b. resources are not equally substitutable between the production of the goods. c. opportunity costs are negative. d. as an increasing quantity of resources are shifted from one manufacturing process (good Y) to another (good X), there is no increase in opportunity cost.