Cartels operate to protect the interests of ______.

Suppose there are four firms that are each willing to sell one unit of a good. Each firm has a different minimum price that they are willing to sell for: Firm A $6, Firm B $7, Firm C $10, and Firm D $12

If the market price is $11 then the market supply for this good will be A) 3 units. B) 4 units. C) 1 unit. D) 2 units.

If the units of variable input in a production process are 1, 2, 3, 4, and 5, and the corresponding total outputs are 30, 34, 37, 39, and 40, respectively. The marginal product of the fourth unit is:

a. 1. b. 37. c. 2. d. 39.