In a competitive economy, workers will be paid according to their

If there is a collusive agreement in a duopoly to maximize profit, then the price will

A) equal the marginal cost of production. B) equal the average total cost of production. C) be the same as the price set by a monopoly. D) be the same as the price set by a competitive industry.

Almost everyone is affected directly or indirectly by high rates of employment or high and variable rates of inflation

a. True b. False Indicate whether the statement is true or false