Which of the following is true of a successful cartel?
a. A successful cartel offers consumers the lowest possible price for a product.
b. A successful cartel minimizes profits for its members.
c. A successful cartel behaves as a monopolist in the market.
d. A successful cartel produces a quantity greater than that produced in a competitive market.
e. A successful cartel is always stable.
c
Economics
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If the fixed costs are relatively small, a relatively good approximation to the correct transfer price is
a. average costs b. average fixed costs c. average variable costs d. the market price
Economics
In a self-regulating economy, a recessionary gap will be eliminated by falling wages which will shift the SRAS curve to the right
Indicate whether the statement is true or false
Economics