Why do firms in oligopoly face a temptation to collude?
What will be an ideal response?
Firms in oligopoly face the temptation to collude because if they can successfully collude, they can boost their economic profit.
Economics
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An example of an increase in b, the efficiency of human capital accumulation, is
A) more mandatory school years. B) better teachers. C) better school material. D) better total factor productivity.
Economics
In general, when the price of a variable factor of production increases:
A. the profit-maximizing price falls. B. total cost falls. C. the profit-maximizing level of output falls. D. the profit maximizing level of output rises.
Economics