In the United States, a collusive agreement to restrict output and increases prices is
A) legal.
B) the key tool used by oligopolists.
C) illegal.
D) the key tool used by monopolistic competitors.
C
You might also like to view...
Which of the following changes to the market in the graph shown could cause the price ceiling to become non-binding?
A. Demand could increase, and shift to the right.
B. Supply could increase, and shift to the left.
C. Supply could increase, and shift to the right.
D. Supply could decrease, and shift to the left.
The market process is dynamic
Indicate whether the statement is true or false
Pollution reduction policies are likely to lead to: a. higher product prices
b. lower product prices. c. unchanged product prices. d. indeterminate changes in product prices.
Other things the same, an increase in the interest rate
a. would shift the demand for loanable funds to the right. b. would shift the demand for loanable funds to the left. c. would increase the quantity of loanable funds demanded. d. would decrease the quantity of loanable funds demanded.