Cartels persist despite laws against them because
A) international cartels are legal.
B) it is impossible to convict firms.
C) of the Prisoners' Dilemma issue.
D) All of the above.
A
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Which of the following is true?
i. In an unregulated market with an external benefit, consumers don't take it into account and consume less than the efficient quantity. ii. Marginal social cost equals marginal private cost minus marginal external cost. iii. An unregulated market produces more than the efficient quantity of a good with an external cost. A) Only i B) Only ii C) Only iii D) i and ii E) i and iii
A policymaker would prefer that the lag in the effect of a policy be
A) long and variable in magnitude or size. B) short and fixed in magnitude or size. C) long and fixed in magnitude or size. D) short and variable in magnitude or size.