Natural resource cartels such as OPEC are inherently unstable because their members operate with excess capacity and have an incentive to cheat on their output quotas
Indicate whether the statement is true or false
TRUE
You might also like to view...
Making the distribution of wealth ________ equal is ________
A) more; differences in degrees of specialization B) less; differences in degrees of specialization C) more; assortative mating D) less; assortative mating
Suppose that a perfectly competitive market is in equilibrium, and then market supply decreases. Which of the following would happen?
a. both producer and consumer surplus would increase b. both producer and consumer surplus would decrease c. producer surplus would decrease and consumer surplus would increase d. producer surplus would increase and consumer surplus would decrease e. producer and consumer surplus would remain unchanged
If the marginal costs are constant and zero for a single price monopolist facing the demand curve P = 10 - Q, what will profits be if fixed costs are 12? 
A. 12 B. 10 C. 38 D. 13
A prominent feature of conditionality linked to loans by the International Monetary Fund is nationalization of key industries.
Answer the following statement true (T) or false (F)