Cartel members have a collective interest in ____ industry price and a private interest in ____ their own prices
a. increasing; increasing
b. increasing; decreasing
c. decreasing; increasing
d. decreasing; decreasing
b
Economics
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Refer to the above figure. Which point or points represent(s) a long-run equilibrium?
A) A only B) B only C) C only D) both A and B
Economics
The above figure shows the long-run cost curves for a typical firm in a competitive market. If the number of firms is unrestricted and input costs are constant, derive the long-run market supply curve
What will be an ideal response?
Economics