Given the information in the table above, Home's opportunity cost of cloth is

As the number of firms in a cartel increases, _____: a. it becomes more difficult for member firms to undercut the agreement. b. it becomes less difficult for member firms to undercut the agreement. c. the price of the good sold in the industry decreases

d. the price of the good sold in the industry increases.

Figure 11-6

The profit-maximizing monopolist in Figure 11-6 will produce ____ units of output.

a.
Q₁

b.
Q₂

c.
Q₃

d.
Q₄