Cartels are likely to be better able to prevent their members from cheating on an agreement: the greater the number of members in the cartel.
a. the fewer the number of members in the cartel
b. the greater the number of members in the cartel.
c. the greater are the differences in production costs across member firms.
d. the greater are the differences in demand projections across member firms.
a
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The table above gives data for the nation of Syldavia. The sum of the current account balance, capital and financial account balance, and the official settlements account balances of Syldavia is equal to
A) $10 billion. B) -$10 billion. C) $40 billion. D) $30 billion. E) zero. The table has some of the U.S. balance of payments account.
The key element in preserving a monopoly is keeping rivals out of the market.
Answer the following statement true (T) or false (F)
If the price of mozzarella cheese (an ingredient in pizzas) declines due to a major technological breakthrough in the dairy industry, there would be:
A) a decrease in the supply of pizza. B) an increase in the supply of pizza. C) an increase in the quantity of pizza supplied. D) no change in the supply of pizza.
In The Wealth of Nations, published in 1776, Adam Smith tried to show that
What will be an ideal response?