In a typical cartel agreement, the cartel maximizes profit when it
a. behaves as a monopolist.
b. behaves as a duopolist.
c. is flexible in enforcing production targets.
d behaves as a perfectly competitive firm.
Answer: A
Microeconomics
- An increase in the price level may be caused
- Which of the following events can cause short-term interest rates to increase?
- Suppose that wages increase sharply this year. Other things being equal a wide-spread increase in wages will have which of the following consequences for the U.S. economy?
- An unanticipated increase in inflation this year will
- If the US economy falls into a recession, then which of the following is likely to happen?
- In 1998, the U.S. economy was at full employment which means that
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- Which of the following statements about the federal budget deficit is true?
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- Suppose the equilibrium GDP is greater than potential real GDP. Which of the following is likely?
- Current equilibrium GDP is less than potential real GDP. According to the classical model of macroeconomic equilibrium, which of the following is true?
- Suppose the price of a key productive resource such as fuel increases. Other things being equal, which of the following will be a consequence of the increase in fuel price?
- Other things being equal, which of the following can cause a recession?
- An unanticipated increase in the inflation rate during this year will
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