Cartels are
a. difficult to organize.
b. difficult to preserve.
c. especially unlikely to succeed if the members sell many varied products.
d. All of the above are correct.
d
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Perfect competition and monopolistic competition are similar in that firms in both types of market structure will
A) act as price takers. B) produce a level of output where price equals marginal cost. C) earn zero profit in the long run. D) act as price setters.
Scenic Cinemas surveyed its audience and found that while most movie goers prefer weekends, seniors visit on weekdays. How should the theatre respond?
a. Increase prices for the weekday shows, decrease the prices for the weekend shows b. Decrease both the weekday and weekend ticket prices c. Decrease prices for the weekday shows, increase prices on the weekends d. Increase both the weekday and weekend prices
Protectionism may reduce imports, and it will also
A. appreciate the dollar, reducing exports. B. appreciate the dollar, increasing exports. C. depreciate the dollar, increasing exports. D. depreciate the dollar, reducing exports.
In most developing countries, an effective fiscal policy is:
A. easier to conduct than in developed economies, because there are fewer institutional checks and balances. B. harder to conduct, because fiscal policy is discretionary in developing countries, unlike developed countries. C. easier to conduct than in developed economies, because politicians tend to be more socially-minded. D. harder to conduct, because taxes are difficult to collect.