When firms in an oligopoly successfully collude and do not cheat on a cartel agreement, they can achieve long-run economic profit similar to
A) perfect competition.
B) monopoly.
C) monopolistic competition.
D) non-colluding oligopolies.
E) the firms in regulated industries.
B
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If Utopia has a closed economy, the number of cases of tile consumed each is ________ per year, and if it has an open economy the number of cases of tile consumed is ________ per year. 
A. 300; 200 B. 300; 450 C. 450; 200 D. 200; 450
If KeKe, age 32, worked 12 hours as a paid employee the week before the Current Population Survey, KeKe is classified in the Current Population Survey as ________ when calculating the unemployment rate
A) a discouraged worker B) employed C) underemployed D) not in the labor force E) unemployed
For a natural monopoly, the efficient quantity is produced when the firm is regulated so that
A) P = ATC. B) P > ATC. C) P = MC. D) P > MC. E) P < MC.
What is the shape of the AFC curve and why does it have this shape?
What will be an ideal response?