The Chamberlin oligopoly provides a foundation for ________ and differs from the Cournot oligopoly as it assumes firms ________ to each other's actions.

A) tacit collusion; do not respond
B) cartels; respond
C) tacit collusion; respond
D) cartels; do not respond

C) tacit collusion; respond

Economics

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David Ricardo, a nineteenth century economist, wrote “The price of corn is not high because a rent is paid, but a rent is paid because the price of corn is high.” Explain this statement in the context of supply and demand

What will be an ideal response?

Economics

When the Fed purchases bonds, the Fed:

A. increases the reserves and the federal funds rate decreases. B. increases the reserves and the federal funds rate increases. C. reduces the reserves and the federal funds rate increases. D. reduces the reserves and the federal funds rate decreases.

Economics