Firms in a cartel usually charge:
A. the same price.
B. different prices to reflect their different costs.
C. lower prices than a monopoly would.
D. higher prices than a monopoly would.
Answer: A
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In a market undergoing technological change, firms that
A) adopt the new technology temporarily incur an economic loss. B) adopt the new technology temporarily make an economic profit. C) do not adopt the new technology temporarily make an economic profit. D) do not adopt the new technology increase their market share. E) do not adopt the new technology continue to make a normal profit.
As a percentage of total federal revenues the corporate income tax has _____
a. increased since 1960 b. declined since 1960 c. fallen during the 1980s, but risen since 1992 d. remained fairly constant since 1960