The benefits from cartelizing are greater if
A) the market demand elasticity is higher.
B) the market demand elasticity is lower.
C) the market price is higher.
D) each firm cuts its output more.
B
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Required reserves are the amount of
A) reserves a bank must hold against its deposits as mandated by the Federal Reserve. B) cash a bank must hold against its deposits as mandated by the Federal Reserve. C) checkable deposits a bank must hold against all other deposits as mandated by the U.S. Treasury. D) reserves a bank must hold against all its assets as mandated by the Federal Reserve.
Landowners will not receive any rent so long as:
A. there is any tax on land. B. the supply and demand curves for land intersect. C. the supply curve of land is perfectly inelastic. D. the supply curve lies entirely to the right of the demand curve.