Implicit collusion, where players do NOT have an explicit agreement
A) are strictly prohibited under antitrust laws.
B) are not strictly prohibited under antitrust laws.
C) results in cheating.
D) maximizes total surplus in the market.
B
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A monopolist faces an average total cost of $10 when it produces 400 units of its product. If it sells the 400 units at $6 per unit, ________
A) the monopolist makes a profit of $600 B) the monopolist makes a loss of $600 C) the monopolist makes a profit of $1,600 D) the monopolist makes a loss of $1,600
Which of the following was specifically instituted to ensure a successful hard peg?
A) the Bretton Woods Agreement B) the European Monetary System C) the European Monetary Union D) the International Monetary Fund
For a monopsonist
a. wage rate > TLC b. wage rate > MLC c. wage rate = MLC d. wage rate = MRP e. wage rate < MLC
If a tax is levied on the sellers of a product, then the demand curve will
a. shift down. b. shift up. c. become flatter. d. not shift.