Natural resource cartels such as OPEC are inherently unstable because their members operate with excess capacity and have an incentive to cheat on their output quotas.
Indicate whether the statement is true or false
Question 2
Which of the following statements is consistent with the views of Joseph Schumpeter?
A) An economy benefits from firms having market power because these firms are more likely to be able to commit funds for research and development.
B) Enforcement of antitrust laws is necessary to promote competition among firms.
C) A lack of competition discourages firms from developing new technologies.
D) Research and development by competitive firms is responsible for most technological changes.
Why are members of the Hells Angels part of a counterculture and not a subculture?
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The consequences of the intensity of natural selection on allele frequency.