Cartels provide uniform management, but none of the advantages of economies of scale.
Answer the following statement true (T) or false (F)
True
You might also like to view...
Giving in to the demand of protestors, suppose the French government reduces the tax on gasoline by 15 percent. Neither the demand for gasoline nor the supply of gasoline is perfectly elastic or inelastic
As a result of the tax cut, the price for a gallon of gasoline paid by buyers A) falls by 15 percent. B) rises by 15 percent. C) falls by less than 15 percent. D) rises by less than 15 percent. E) falls by more than 15 percent.
Which of the following would NOT shift the demand curve for turkey?
A) an increase in income B) a decrease in the price of ham C) a change in people's preferences for turkey D) a change in the price of a turkey
Given the scenario described, if the market price of hammers decreased from $17 to $12:
Assume there are three hardware stores, each willing to sell one standard model hammer in a given time period. House Depot can offer their hammer for a minimum of $7. Lace Hardware can offer the hammer for a minimum of $10. Bob's Hardware store can offer the hammer at a minimum price of $13. A. producer participation in the market would increase. B. producer participation in the market would decrease. C. producer participation in the market would not be affected. D. total producer surplus would remain unchanged.
Persons who do not work because of bad weather or vacation are part of
a. the unemployed labor force. b. the employed labor force. c. frictional unemployment. d. cyclical unemployment.