One would expect that collusion among oligopolistic producers would be easiest to achieve in which of the following cases?
A. A rather large number of firms producing a differentiated product.
B. A very small number of firms producing a differentiated product.
C. A rather large number of firms producing a homogeneous product.
D. A very small number of firms producing a homogeneous product.
Answer: D
Economics
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A price floor policy establishes a minimum price for a market. Which of the following results from a binding price floor?
A. Shortage B. Excess demand C. Excess supply D. Equilibrium
Economics
_______________________: costs incurred by 3rd parties to a transaction.
Fill in the blank(s) with the appropriate word(s).
Economics