Cheating on a collusive agreement is more likely when
a. a price floor is in effect
b. firms are located in the same state
c. it is easy to observe the other firms' prices
d. there is a small number of firms
e. market demand is unstable
E
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Which of the following was an outcome of uncoordinated oil drilling in Huntington Beach, California?
a. The entire oil present underground had been extracted within few years. b. Underground oil pressure had increased due to excessive drilling leading to an oil spill into the adjacent sea. c. A majority of the oil could not be drilled out as low underground pressure prevented oil from reaching the surface. d. The oil belt suffered frequent earthquakes as excessive drilling had loosened the soil bonding.
In 2000, the top 100 transnational companies produced about _____________ percent of the entire world's output
A) 2.1 B) 4.3 C) 10.5 D) 22.1