A cartel is a group of firms that attempts to
A) maximize joint revenue.
B) maximize joint profit.
C) behave independently.
D) increase consumer surplus.
B
Economics
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When a firm becomes so large it is difficult to coordinate and control, it is most likely that
A) economies of scale have begun. B) diseconomies of scale have begun. C) average total cost begins to fall. D) long-run average costs become negative. E) there are increasing marginal returns to increasing the firm's plant size.
Economics
From 1837 and up until the Civil War, the United States adhered to a
A) gold standard. B) silver standard. C) bimetallic standard. D) bronze standard. E) copper standard.
Economics