Regulation imposed by such organizations as the Food and Drug Administration or the Environmental Protection Agency seeking to protect the welfare of people in our nation is referred to as

Decision making is a process, what is the first step?

a. Define the decision b. Estimate resources c. Consider alternatives d. Imagine consequences

Cheating on a collusive agreement is more likely when

a. a price floor is in effect b. firms are located in the same state c. it is easy to observe the other firms' prices d. there is a small number of firms e. market demand is unstable