The only item which would be consistent with a decreased likelihood of cartel formation for production of a product is
a. patent protection
b. price inelastic demand
c. many producers
d. income elastic demand
e. limited market entrance
C
Economics
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As the banking system in the United States evolves, it is expected that
A) the number and importance of small banks will increase. B) the number and importance of large banks will decrease. C) small banks will grow at the expense of large banks. D) the number and importance of large banks will increase.
Economics
A firm will increase its spending on advertising until
A) it has monopolized the market. B) it has deterred all future entry. C) the marginal benefit of advertising is zero. D) the marginal benefit of advertising equals the marginal cost of advertising.
Economics