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Author Question: A firm might be tempted to cheat on a collusive price-fixing agreement by setting a ________ price ... (Read 148 times)

kodithompson

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on: Jun 29, 2018
A firm might be tempted to cheat on a collusive price-fixing agreement by setting a ________ price and producing ________ than agreed upon.
 
  A) lower; more
  B) lower; less
  C) higher; more
  D) higher; less

Question 2

To help pay for the cost of sport related injuries, the government imposes a tax on sellers of all sports equipment. The sport equipment producers' share of this tax would be greater than shown in the above figure if
 
  A) the demand was more elastic.
  B) the demand was more inelastic.
  C) the supply was more elastic.
  D) Both answers A and C are correct.


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bigcheese9

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

A


kodithompson

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

pratush dev

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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