The oligopoly dilemma is whether to ________
A. act together to restrict output and raise the price
B. raise the price to the monopoly profit-maximizing price
C. cheat on others in the cartel to take advantage of profit opportunities
D. lower the price to the perfectly competitive price
C Cheating on the others in the cartel will boost the cheater's profit as long as the other participants also do not cheat.
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The aggregate demand for money can be expressed by
A) Md = P × L(R,Y). B) Md = L × P(R,Y). C) Md = P × Y(R, L). D) Md = R × L(P,Y). E) Md = R × L(R, P).
A price discriminating monopolist having identical costs in two separated markets should charge a higher price in that market:
a. which has a higher demand. b. which has a more elastic demand. c. which has a less elastic demand. d. which has a higher marginal revenue.