Which of the following increases the likelihood that a group of sellers can increase profits as the result of collusion?
a. the presence of a large number of firms in the industry
b. intense quality competition among firms
c. low barriers to entry into the industry
d. a stable demand for the product
D
Economics
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The duration of the "short-run"
A) is one year. B) is the same for all goods. C) depends on the relative short-run elasticity of demand and supply for the good. D) depends on how long it takes consumers or firms to adjust for a particular good.
Economics
Refer to the tables. The domestic opportunity cost of one unit of X in Beta is:
Answer the question on the basis of the following production possibilities tables for countries Alpha and Beta:
A. 2 units of Y.
B. 4 units of Y.
C. 1 unit of Y.
D. 3 units of Y.
Economics