Which of the following is a consequence of the formation of a cartel?
a. Output produced will be lower than the equilibrium output.
b. Prices charged will be lower than the equilibrium price

If the Fed decided to target price levels and inflation was lower than its target for a period of time, the Fed would be required to

A) permanently raise inflation above its target to reach and maintain its price level target. B) permanently lower its price level target to align it with the inflation rate. C) temporarily lower its inflation target to match its price level target. D) temporarily raise inflation above its target to reach its price level target.

Dell uses outsourcing, that is, Dell buys the components of the computers it produces from other firms. This is an example of

A) firm coordination. B) a partnership. C) a command system. D) market coordination.