Collusion always involves firms engaging in a
A) vertical merger.
B) horizontal merger.
C) cooperative game.
D) noncooperative game.
C
Economics
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If potential GDP for the first quarter of 2013 = $75.8 billion, nominal GDP for the first quarter of 2013 = $80.3 billion, and the GDP deflator = 109, then the output gap was
A) 2.8%. B) 4.7%. C) 5.6%. D) 5.9%.
Economics
When quantities of two goods belong to the same indifference curve, which of the following is true?
a. The combinations of the two goods along the indifference curve yield the same total utility. b. Prices of the two goods are equal. c. Marginal utilities of both goods are equal. d. The total utility of all combinations above the curve equal zero.
Economics