Cartels are unstable due to all of the following factors except which one?
A) incentive to act in self-interest
B) incentive for each firm to serve as the whistle -blower
C) entry of new firms into the market
D) trade groups
D) trade groups
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Describe the choices that consumers make and explain why consumers are efficient on the market demand curve
What will be an ideal response?
Since the demand curve is downward sloping, the graph of total profits is also has a negative slope.
Answer the following statement true (T) or false (F)
The time value of the option can best be defined as
A. the fee earned for the potential benefits from buying the option. B. the commission earned by a broker. C. the service fee charged by the SEC for regulating the option market. D. the fee paid for the potential benefits from buying an option (excluding its intrinsic value).
Figure 7.5
The consumer must decide how to split $20 between spending and saving.Refer to Figure 7.5. If the consumer is subject to present bias, he/she will consume ________ now and save ________ to maximize utility.
A. $12; $8 B. $18; $2 C. $12; $2 D. $0; $20