All externalities are detrimental.
Answer the following statement true (T) or false (F)
False
Economics
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Philosophical foundations of the European model were provided by:
a. Adam Smith b. David Ricardo c. The theory of social market economy d. Mercantilism e. Both c and d
Economics
A cartel member has the incentive to cheat on the cartel agreement because
a. it fears that other members may also cheat on the agreement. b. the cartel prevents the member from charging the monopoly price. c. undercutting the cartel price will increase the cartel member's profit. d. the cartel outcome is not Pareto optimal for the cartel members.
Economics