Cartel agreements are difficult to maintain because individual members:
a. can gain by raising their price above the price that is best for the cartel.
b. are often unable to police the price and output policies of other members.
c. can gain by secretly raising their price above the price that is best for the cartel.
d. can enforce price arrangements vigorously in court.
b
Economics
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The greater the MPC is, the ___ the slope of the demand curve.
a. greater b. smaller c. It depends on the trade balance. d. The slope of the demand curve does not depend on this.
Economics
The above figure shows the market demand curve for telecommunication while driving one's car (time spent on the car phone). If the price were $2.50, consumer surplus equals
A) $301.00. B) $924.50. C) $1,225.50. D) $0
Economics