If both firms in a duopoly cheat on a collusive agreement, the price ________ and both firms are ________
A) falls; better off
B) rises; worse off
C) falls; worse off
D) rises; better off
C
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The table below shows the weekly supply for hamburgers in a market where there are just three sellers.PriceSeller 1 Qs 1Seller 2 Qs 2Seller 3 Qs 3$5854464334322221 If the price of a hamburger increases from $3 to $5, then the weekly market quantity of hamburgers supplied will
A. decrease from 17 to 9. B. decrease from 17 to 13. C. increase from 9 to 17. D. increase from 13 to 17.
If good A is an inferior good, an increase in income leads to:
A. a decrease in the demand for good B. B. no change in the quantity demanded of good A. C. a decrease in the demand for good A. D. an increase in the demand for good A.
Fiscal policy is typically:
A. extremely flexible provided policy lags are short. B. extremely flexible because most government spending is discretionary. C. difficult to implement quickly. D. flexible despite the presence of implementation problems.
Revenue sharing tries to induce worker effort by linking:
A. worker output to revenues. B. worker compensation to revenues. C. worker output to profits. D. worker compensation to profits.