Successful collusion requires all of the following except
a. a monopoly market with strong barriers to entry
b. all firms cooperate, none cheat
c. all firms belong to the same industry
d. collusion will be more profitable than non-collusion
e. the government does not interfere
A
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According to proponents of behavioral economics, because every possible choice cannot be considered, an individual will tend to fall back on methods of making decisions that are simpler than trying to sort through every single possibility, known as
A) rules of thumb. B) rational options. C) irrational choices. D) normative decisions.
If the MPC in an economy is 0.8, government could shift the aggregate demand curve rightward by $100 billion by
A. increasing government purchases by $25 billion. B. decreasing taxes by $25 billion. C. increasing government purchases by $80 billion. D. decreasing taxes by $100 billion.