In the United States, price-fixing cartels are
a. ubiquitous
b. nonexistent
c. generally illegal
d. discouraged the Department of Labor
e. dominant in small industries with large numbers of firms
C
Economics
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For a monopoly, the market demand curve is the firm's
A) supply curve. B) marginal revenue curve. C) demand curve. D) profit function.
Economics
Which of the following observations is true?
a. Free markets will achieve all of society's goals. b. The ability to buy goods is divided equally among consumers. c. The market deals with efficiency in production through the profit motive. d. The market system encourages firms to use inputs wastefully.
Economics