Which of the following is NOT conducive to the successful operation of a cartel?
A) Market demand for the good is relatively inelastic.
B) The cartel supplies all of the world's output of the good.
C) Cartel members have substantial cost advantages over non-member producers.
D) The supply of non-cartel members is very price elastic.
D
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Figure 14.1 shows three aggregate demand curves. A shift from curve AD1 to curve AD0 could be caused by a(n):
A. increase in the money supply. B. decrease in taxes. C. increase in the price level. D. decrease in government spending.
The two main types of economies generating current account surpluses from 2000 to 2007 were Asian exporters and oil producers
Indicate whether the statement is true or false
Ben's Peanut Shoppe suffers a short-run loss. Ben will not choose to shut down if
A) his Peanut Shoppe's total revenue exceeds his fixed cost. B) his Peanut Shoppe's total revenue exceeds his variable cost. C) his Peanut Shoppe's total revenue exceeds his implicit costs. D) his Peanut Shoppe's total revenue exceeds his capital costs.
Explain the difference in focus between government regulation and government antitrust policy.
What will be an ideal response?