Which of the following statements about collusion is true?
a. Collusion is legal in the United States.
b. Its overriding goal is to enhance competition and thereby increase profits.
c. The greater the number of firms, the less difficult it is to maintain a collusion.
d. Collusion never results in benefits for the participants.
e. Collusion may help to increase the profits of the participating firms.
e
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We have achieved production efficiency if we can produce more of one good without producing less of some other good
Indicate whether the statement is true or false
Stocks are
A) promises to repay loans. B) a liability of a proprietorship. C) a liability of a corporation. D) shares of ownership in a corporation.
Regarding new inventions, which of the following statements is not true?
a. a new invention typically has little competition b. this effective monopoly on the market earns the inventor abundant profit c. that profit gets the attention of other potential inventors, who create competing products d. reduced to zero economic profits, the inventor goes out of business
If R represents the reserve ratio for all banks in the economy, then the money multiplier is
a. 1/(1-R). b. 1/R. c. 1/(1+R). d. (1+R)/R.