Between 1986 and 1998 the De Beers company controlled the world diamond market. De Beers and its affiliated association of producers restricted diamond sales to maximize profits
De Beers and its association was "the only game in town" and had what is A) a cartel.
B) a duopoly.
C) monopolistic competitor.
D) perfect competitor.
A
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Regardless of whether a negative externality is emitted by consumers or by producers, a Pigouvian tax can be imposed on consumers only.
Answer the following statement true (T) or false (F)
In 1974, one could buy a theater ticket for $1.25 . Today the same theater ticket costs $6.50 . Which pair of CPIs would imply that the cost in today's dollars was the same for both tickets?
a. 60 in 1964 and 390 today b. 75 in 1964 and 390 today c. 80 in 1964 and 404 today d. 95 in 1964 and 475 today
Which of the following is NOT a predictable result of a price ceiling set below the market clearing price?
A. lines to purchase the product B. excess quantity demanded C. an illegal market in the good D. excess quantity supplied
Refer to the table shown. If the average product is 6, the number of workers could equal:Number of workersTotal output142103184285356417458489501049
A. 5. B. 7. C. 1. D. 3.