With which choice are you more likely to avoid Bid-rigging cartels?
a. Holding smaller auctions
b. Holding larger auctions
c. Holding infrequent auctions
d. Both B&C
d
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The table above gives a nation's government outlays and tax revenues for 2012 through 2016. During which years did the country have a budget surplus?
A. 2012 and 2013 B. 2016 only C. 2015 only D. 2014 and 2016 E. all except 2015
Refer to the accompanying figure. The equilibrium price is ________, and the equilibrium quantity is ________.
A. $4; 6 B. $8; 6 C. $6; 4 D. $2; 8
It is the custom for paper mills located alongside the Layzee River to discharge waste products into the river. Operators of hydroelectric generating plants on the river find they must clean up the river's water before it flows through their equipment. The above situation is an example of:
A. an external economy. B. the exclusion principle. C. a spillover cost. D. a spillover benefit.
In the above table, if the marginal revenue product is $26, how many workers will the profit maximizing monopsonist hire and what wage will they pay each worker?
A. 5; $16 B. 6; $30 C. 4; $16 D. 5; $18