A cartel is a group of firms which agree to
A) behave competitively.
B) raise the price of their product.
C) lower the price of their product.
D) increase the amount they produce.
B
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A performance-based standard
a. specifies a pollution limit and lets polluters select the technology to achieve that limit b. is less flexible than a technology-based standard c. designates the equipment or control method to be used for pollution abatement d. none of the above
Which of the following is the smallest portion of the market basket of goods that makes up the CPI?
A) food and beverages B) apparel C) transportation D) housing
If firms in a perfectly competitive market have dissimilar cost curves what will be the shape of the long-run supply curve?
Price floors are only effective below the market equilibrium
a. True b. False Indicate whether the statement is true or false