As of December 2010, the largest single component of M1 consists of

Successful tacit collusion is most likely to arise among oligopolistic firms when they:

a. are all the same size. b. all have the same production costs. c. do not have a means of engaging in nonprice competition. d. each play the tit for tat strategy.

The government can use taxes to

A) change production in a market with an external cost to the efficient amount. B) change production in a market with an external benefit to the efficient amount. C) increase production. D) decrease price.