A tax accounting firm produces 500 tax returns units when the market price is $150 per return and produces 700 tax returns when the market price is $170 per tax return. Using the midpoint method, for this range of prices, the price elasticity of supply is about

Cartel agreements are more likely to succeed if: a. there are a large number of firms in the industry producing identical products. b. there are few firms in the industry producing identical products

c. there are a large number of firms in the industry producing differentiated products. d. there are a few firms in the industry producing differentiated products.

The history of the textile industry raises important questions for economic policy

a. True b. False Indicate whether the statement is true or false