Collusion is:
A. more likely when the threat of market entry is missing.
B. more likely in perfectly competitive markets.
C. less likely when the threat of market entry is missing.
D. not affected by firm’s ability to enter a market.
A. more likely when the threat of market entry is missing.
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A unique feature of an oligopolistic industry is
A. large number of producers. B. standardized products. C. mutual interdependence. D. low barriers to entry.
The process by which individuals limit their productive efforts to a particular activity instead of trying to produce directly everything that they need is known as
a. specialization. b. using absolute advantage. c. using exchange. d. scarcity.
If the economy is on the LM curve, but is to the right of the IS curve, aggregate output will ________ and the interest rate will ________
A) rise; rise B) rise; fall C) fall; rise D) fall; fall
Output expanded and was distributed toward wartime uses and away from private uses only during World War I (1914–18), not World War II (1941–45). The high unemployment of the 1940s made this possible
Indicate whether the statement is true or false