Price fixing is an arrangement whereby firms agree to:
A. set price equal to marginal revenue.
B. set price equal to marginal cost.
C. set price equal to average total cost.
D. coordinate their pricing decisions.
Answer: D
Economics
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Output per worker must be ________ output per person.
A. less than or equal to B. equal to C. no more than half the size of D. greater than or equal to
Economics
The 10% tax surcharge in 1968 was only for 1 year, and people deemed the tax was temporary. As a result, the tax:
A. did not have much effect on people's consumption. B. resulted in a large drop in people's consumption. C. resulted in a large increase in people's consumption. D. caused people's consumption to become zero.
Economics