A cartel price will be established at the quantity where
A) total cost equals the industry total revenue.
B) average cost equals the industry revenue.
C) the sum of the members' marginal costs equals industry marginal revenue.
D) marginal cost equals industry price.
C
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In the long run,
a. the natural rate of unemployment depends primarily on the level of aggregate demand. b. inflation depends primarily upon the money supply growth rate. c. there is a tradeoff between the inflation rate and the natural rate of unemployment. d. All of the above are correct.
We can find the market supply for phones by:
A. adding all of the prices at which sellers are willing to sell phones. B. multiplying the number of sellers by the number of consumers. C. adding the number of phones buyers want to buy at each price level. D. adding the individual supply curves for phones.
The Federal Reserve Bank was modeled after the European Central Bank.
Answer the following statement true (T) or false (F)
Refer to the diagram for a pure monopolist. Monopoly price will be:
A. e.
B. c.
C. b.
D. a.