In a duopoly with a collusive agreement and in a one-time only game, a firm's profit is largest if it ________ the agreement and if the other firm ________ the agreement

Price cap regulation is a type of regulation that

A) offers price subsidies to firms that comply with regulation guidelines. B) is equivalent to rate of return. C) sets the maximum price the firm can charge. D) sets the minimum price the firm can charge.

For much of its history, General Motors was characterized by having versions of the same car with different nameplates, e.g., Chevrolet vs. Cadillac. This business model has seemed less successful in recent years. What might explain this?

A) Consumers have more information concerning costs and quality. B) Consumers have more information concerning costs but not quality. C) Sellers have more information concerning costs but consumers have more information about quality. D) Consumers have less information concerning costs and quality.