Being a member of a cartel is similar to being in a Prisoner's Dilemma situation because
a. each firm is being held hostage by the decisions of the other firms.
b. of anti-trust laws which make price fixing a criminal offense.
c. to obtain the best possible outcome for all, an enforcement mechanism is needed.
d. of the presence of organized crime in industries with cartels.
c. to obtain the best possible outcome for all, an enforcement mechanism is needed.
Economics
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The opportunity cost of holding money is measured by
A) the interest yield that could have been earned by holding some other asset. B) the liquidity of interest-bearing assets. C) the price of government bonds. D) a dollar.
Economics
Briefly explain how a change in the personal income tax rate affects aggregate demand
What will be an ideal response?
Economics