Direct controls often require long legal proceedings before they can be effective.
Answer the following statement true (T) or false (F)
True
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Which of the following is the best example of tacit collusion?
A) The formation of a cartel. B) Price leadership. C) Predatory pricing. D) Noncooperative pricing behavior.
In the federal funds market diagram, an open market sale by the Fed
A) shifts the reserve supply curve to the right. B) shifts the reserve supply curve to the left. C) decreases the federal funds rate. D) increases the volume of federal funds traded.
Profit is the payment for
a. land and labor b. risk taking and innovation c. capital and labor d. risk taking and capital e. all of the factors of production
The market for bagels contains two firms: BagelWorld (BW) and Bagels'R'Us (BRU). The owners of the two firms decide to fix the price of bagels. The table below shows how each firm's profit (in dollars) depends on whether they abide by the agreement or cheat on the agreement. 
For Bagels 'R' Us, ________ is a ________.
A. abiding by the agreement; dominant strategy when Bagel World also abides B. cheating on the agreement; dominated strategy C. cheating on the agreement; dominant strategy D. abiding by the agreement; dominant strategy