Which of the following statements is FALSE?
A) Cartels only form among members of an oligopoly.
B) A cartel might form if members believe they can increase profits by coordinating activity.
C) Members of a cartel produce less output than that produced in a competitive market.
D) Cartel members often have an incentive to cheat.
A
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An example of a public good is a flood control project that protects all the homes and properties near a river
a. True b. False Indicate whether the statement is true or false
Efficiency means that
a. society is conserving resources in order to save them for the future. b. society's goods and services are distributed equally among society's members. c. society's goods and services are distributed fairly, though not necessarily equally, among society's members. d. society is getting the maximum benefits from its scarce resources.