A group of firms acting together to limit output, raise price, and increase economic profit is a called a
A) duopoly.
B) monopolistic oligopoly.
C) competitive oligopoly.
D) cartel.
E) multi-firm competitive monopoly.
D
You might also like to view...
To attract more bidders, and more aggressive bidders, to your common-value auction
a. withhold relevant information about the value of the object b. don't allow bidders to know how others are bidding c. do not allow potential bidders to examine the object too closely d. hold oral auctions
The interest rate that the Fed charges banks that borrow reserves from it is the
a. federal funds rate b. discount rate c. reserved rate d. investment rate e. check rate
Which of the following shifts aggregate supply to the right?
a. a decline in the price of imported natural resources b. a technological advance c. an older labor force that leaves jobs less frequently d. All of the above are correct.
If a new major oil field is discovered in Africa, the world __________ curve for oil would shift to the __________.
A. demand; right B. supply; left C. supply; right D. demand; left