Collusion is:
A. easy to maintain since firms always have an incentive to renege.
B. difficult to maintain since firms always have an incentive to renege.
C. difficult to maintain since firms rarely agree on the terms.
D. easy to maintain since firms face similar cost curves.
Answer: B
You might also like to view...
Recessions can sometimes last less than a single year
a. True b. False
Which of the following is counted in GDP?
A) the trading of 100 shares of Microsoft stock B) the services of a real estate broker C) government transfer payments D) the sale of a used car E) none of the above
First-mover advantage is:
A. more important to those who have less to bargain with. B. more important in a repeated sequential game than in a one-round sequential game. C. more important in a repeated game than in a sequential game. D. more important in an ultimatum game than in a repeated game.
Refer to the above table. What does total product equal when 3 units of labor are used?
A. 1008 B. 338 C. 336 D. 3