Which would make it easier to maintain an effective collusive agreement in a cartel?
A. The emergence of a number of potential entrant firms
B. A decrease in the elasticity of demand for the cartel's product
C. An increase in the number of substitutes for products produced by the cartel
D. A new method of pricing that makes it more difficult for firms in the cartel to determine the prices at which other cartel members are selling their product
B. A decrease in the elasticity of demand for the cartel's product
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What are the defining features of Keynesian macroeconomics and what policies do Keynesian macroeconomists recommend?
What will be an ideal response?
An increase in the corporate profits tax would shift the demand for loanable funds curve to the left
a. True b. False
If a firm is experiencing diminishing marginal returns to labor, then
a. total output must be decreasing b. total output rises more slowly as additional workers are added c. the firm must decrease the amount of labor it hires d. total output per worker must be rising e. the firm must be operating in the long run
Which one of the following techniques is an example of the replacement cost method of economic valuation?
a. Contingent valuation b. Hedonic pricing c. Travel cost method d. Habitat equivalency analysis e. Cost-effectiveness valuation