If a increase in income decreases the demand for a good, then the good is a(n)

Which of the following is a difference between a cartel and a monopoly?

a. A cartel will seek to decrease production in order to increase profits, whereas a monopoly will seek to increase production in order to increase profits. b. A cartel is a price taker, whereas a monopoly is a price setter. c. The members of a cartel each have an incentive to cheat on the agreed-upon quantity and price, whereas a monopoly has no such incentive. d. The members of a cartel sell homogeneous products, while a monopoly sells differentiated products.

Which of the following situation would make transaction costs too high to negotiate and therefore the Coase Theorem would not apply?

A. Only a few people are bothered by the pollution in the area B. Many people are bothered by pollution in the area C. Many firms are in the area with different levels of pollution D. One firm is the cause of the pollution