This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Cartels are typically subject to cheating by their members because A) if the other firms stick to ... (Read 97 times)

EY67

  • Hero Member
  • *****
  • Posts: 531
on: Jun 29, 2018
Cartels are typically subject to cheating by their members because
 
  A) if the other firms stick to the agreement, a firm can increase its profits by cutting its price.
  B) barriers to entry do not exist so new entrants will join.
  C) the U.S. Justice Department will punish any cartel agreement before the cartel has had a chance to operate.
  D) product differentiation allows the firms in the cartel to cheat.

Question 2

Paul's monthly income decreased from 2,500 to 2,300. As a result, he decreased the number of DVDs he rents per month from 5 to 4. Paul's demand for DVD rentals is
 
  A) price elastic.
  B) price inelastic.
  C) income elastic.
  D) income inelastic.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

brittrenee

  • Sr. Member
  • ****
  • Posts: 321
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

C


EY67

  • Member
  • Posts: 531
Reply 2 on: Jun 29, 2018
Wow, this really help

Kedrick2014

  • Member
  • Posts: 359
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

Did you know?

Illicit drug use costs the United States approximately $181 billion every year.

Did you know?

The people with the highest levels of LDL are Mexican American males and non-Hispanic black females.

Did you know?

Never take aspirin without food because it is likely to irritate your stomach. Never give aspirin to children under age 12. Overdoses of aspirin have the potential to cause deafness.

Did you know?

An identified risk factor for osteoporosis is the intake of excessive amounts of vitamin A. Dietary intake of approximately double the recommended daily amount of vitamin A, by women, has been shown to reduce bone mineral density and increase the chances for hip fractures compared with women who consumed the recommended daily amount (or less) of vitamin A.

The term wasp is typically defined as any insect of the order Hymenoptera and suborder Apocrita that The term wasp is typically defined as any insect of the order Hymenoptera and suborder Apocrita that
Factors that contribute to the growth of family members. Factors that contribute to the growth of family members.
J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo
With their specialized language and activities, surfers are highly recognized as members of a ... With their specialized language and activities, surfers are highly recognized as members of a ...
Cheating! Cheating!
Competitive firms and maximization Competitive firms and maximization
Video: Audiology

For a complete list of videos, visit our video library