Collusion is
A) legal under U.S. antitrust laws if the intent is to increase competition.
B) necessary for firms to raise money by borrowing from investors or from banks in order to fund research and development required to develop new products.
C) an agreement among firms to charge the same price or otherwise not to compete.
D) common among monopoly firms.
C
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Because of the free rider problem
a. private solutions to externality problems are often needed b. side payments are needed in order to achieve Pareto improvements c. governmental solutions to externality problems are often needed d. side payments are needed in order to solve externality problems e. private solutions to externality problems are common
Using the point method the price elasticity of demand for the demand curve P = 20 - 2Q, when P = 30 is
A. 0.08. B. 0.33. C. 12. D. 3.