In an economist's view, a cartel usually offers to society
a. all the cost benefits of large-scale production and none of the allocative inefficiencies of monopoly.
b. all the cost benefits of large-scale production and all of the allocative inefficiencies of monopoly.
c. none of the cost benefits of large-scale production and none of the allocative inefficiencies of monopoly.
d. none of the cost benefits of large-scale production and all of the allocative inefficiencies of monopoly.
d
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The principle that states that we should strive to achieve the greatest happiness for the greatest number is called
A) the big tradeoff. B) the symmetry principle. C) utilitarianism. D) efficiency.
Over the past fifty years, convergence has generally occurred for all of the following groups of countries with the exception of
A) the five richest countries. B) European countries. C) the 'four tigers' in Asia. D) OECD countries. E) none of the above