Firms in an oligopoly often do not collude with each other because ________
A) collusion lowers profit
B) collusion increases the cost of production
C) collusion is illegal
D) collusion increases competition
C
You might also like to view...
In its current execution of monetary policy, the Fed does not usually have a specific _____________ target, but rather it tries to target a specific ________________
A) money supply; federal funds rate B) federal funds rate; money supply C) money supply; discount rate D) required reserves ratio; discount rate
Monetarists believe that the aggregate supply curve is relatively steep in the short and long runs. This means they expect
A. inflation with no change in output. B. increases in output to bring much inflation. C. increases in output to bring little inflation. D. decreases in output to bring much inflation.