Why should consumers be concerned about collusive agreements? What legal remedies are available now?
Collusive agreements are basically agreements to reduce the level of competition in order to boost oligopoly profits. As a result, consumers must pay higher prices and smaller quantities of output are available for purchase. The marketplace and consumers have legal remedies in the form of antitrust laws, which prohibits price fixing by companies.
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Since people's incomes are limited and their abilities to borrow differ they face _____ constraints
a. psychological b. financial c. societal d. contractual
How does scarcity affect the range of possible choices that decision makers face?
a. It narrows the choice to a single option. b. It narrows the range of choices. c. It increases the possible methods for solving problems. d. It clarifies the choices by highlighting the best solutions. e. It simplifies the choices and therefore widens the range.