Because cooperation dominates noncooperation as a strategy for maximizing profits, cheating is rarely if ever an issue that cartels have to contend with

What determines the price and the quantity produced of most goods?

a. the consumer's perception of necessity b. the interaction of supply and demand c. the quality of the goods that are produced d. the availability of substitutes for the goods

The value of the marginal product of a resource is equal to:

a. the marginal revenue of the firm, if the product market is perfectly competitive. b. the market price of the product divided by the price of the resource. c. the market price of the product divided by the marginal product of the resource. d. the marginal revenue product of the resource, if the product market is perfectly competitive. e. the marginal product of the resource divided by the price of the resource.