Author Question: A formal agreement among the firms in an industry to coordinate their production and pricing ... (Read 114 times)

viki · **on:** Jun 30, 2018

A formal agreement among the firms in an industry to coordinate their production and pricing decisions in order to earn monopoly profits is known as
a. price discrimination
b. the kinked demand curve
c. monopolistic competition
d. a cartel
e. joint competition

Question 2

The basic difference between a public bureau and a market firm is that the bureau
a. has an incentive to maximize profits
b. has no incentive to minimize costs
c. managers do not attempt to maximize their self interest
d. managers are more likely to be concerned with the public interest than their own self interest
e. faces a budget constraint placed up it by the voters