The success of a cartel rests upon
A. making exit from the cartel as nearly costless as possible.
B. inducing all members to differentiate their products and charge different prices.
C. inducing all members to limit their combined output and charge the same price.
D. discouraging some firms in the market from joining.
Answer: C
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Political competition between candidates, especially attempts to paint one's opponent as being extreme, shows that _____
a. the way to be a successful politician is to fight dirty b. cyclical majorities will never exist c. there is an opportunity for third parties d. politicians implicitly accept the validity of the median voter model
About how many girls and women are said to be "missing" in LDCs?
a. 2 million b. 20 million c. 200 million d. 2 billion
A dominant strategy is a
A) last-mover strategy. B) negative-sum strategy. C) player's best strategy when she can make the first move. D) player's best strategy regardless whatever strategies are adopted by the rivals.
The production function Y = AK?L1-? exhibits
a. constant returns to scale. b. diminishing marginal returns to scale. c. increasing returns to scale. d. decreasing returns to scale. e. both a and b.