As the number of firms in a cartel increases, _____:
a. it becomes more difficult for member firms to undercut the agreement.
b. it becomes less difficult for member firms to undercut the agreement.
c. the price of the good sold in the industry decreases

Why do both the chain-weighted index for GDP and the CPI overstate actual price increases?

What will be an ideal response?

Sue's Surfboards is the sole renter of surfboards on Big Wave Island. Sues demand and marginal revenue curves are illustrated in the figure above. Sue's Surfboards currently rents 15 surfboards an hour. Sue's total revenue from the 15 surfboards is

A) $300. B) $225. C) $150. D) $10.