Refer to above Table 2-2. The implicit GDP deflator for year 2 is

What conditions are necessary for a cartel to work? Diagram equilibrium price and output determination in a collusive oligopoly market. Explain how a decrease in demand accompanied by cheating by members can help break up a cartel

What will be an ideal response?

Near the end of the eighteenth century, the dollar:

a. was a nickname for the Spanish Peso. b. was more plentiful than any other coin. c. was customarily used to reckon accounts. d. All of the above are correct.