The maximum economic profit that can be made by a duopoly that colludes is equal to the ________
A) economic profit made by duopolists who cheat
B) normal profit made by an oligopoly
C) economic profit made by a monopoly
D) normal profit made by firms in perfect competition
C
Economics
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The above table shows production combinations on a country's production possibilities frontier. What is the opportunity cost of increasing the production of X from 0 to 3 units?
A) 40 units of good Y per unit of good X B) 3 units of good Y per unit of good X C) 4/3 units of good Y per unit of good X D) 0 units of good Y per unit of good X
Economics
In what way does land differ from other inputs such as labor and capital?
What will be an ideal response?
Economics