A cartel is a collusive agreement among a number of firms that is designed to
A) expand output and lower prices but not to a predatory level.
B) restrict output and lower prices to a predatory level.
C) restrict output and raise prices.
D) expand output and raise prices.
E) expand output and lower prices to a predatory level.
C
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What is Okun's Law?
What will be an ideal response?
Refer to the scenario above. Suppose the interest rate is 5 percent. In this case, you will have ________ in your account after one year
A) $533 B) $546 C) $550 D) $580
Suppose a manager is deciding whether or not to purchase a piece of equipment to make an input internally and has completed the majority of the net present value (NPV) calculations. The manager has correctly calculated the NPV to be equal to: NPV = ($1.19 × Q) - $1,000,000, where Q is the annual quantity of the input the firm needs. In order for the NPV to be positive, the firm needs at least
________ units of the input each year. A) 840,337 B) 890,562 C) 952,260 D) 369,566
Which statement is true?
A. The monopolistic competitor has a perfectly elastic demand curve. B. The monopolistic competitor may make a profit in the long run. C. The monopolistic competitor operates at the minimum point of her ATC curve. D. None of these statements are true.