Collusion results when a group of firms
i. act separately to limit output, lower prices, and decrease economic profits.
ii. act together to limit output, raise prices, and increase economic profits.
iii. in the United States legally fix prices.
A) i only
B) ii only
C) iii only
D) i and iii
E) ii and iii
B
Economics
You might also like to view...
Who can determine the true cost of water?
A) Nobody B) Anybody who puts their mind to it C) Only the most competent hydrologist D) A good accountant
Economics
Command-and-control regulation tends to: a. increase the costs of production to reflect the social costs
b. increase the deadweight loss caused by negative externalities. c. decrease the cost of production of firms. d. increase subsidies in order to increase the private benefit of consumption.
Economics