Author Question: Collusion occurs when A) there is an agreement among firms to charge the same price or otherwise ... (Read 37 times)

mspears3 · **on:** Jun 29, 2018

Collusion occurs when

A) there is an agreement among firms to charge the same price or otherwise not to compete.
B) firms refuse to follow their price leaders.
C) a firm chooses a level of output to maximize its own profit.
D) two firms' price and output decisions come into conflict.

Question 2

Suppose the working-age population of a fictional economy falls into the following categories: 90 are retired or homemakers; 60 have full-time employment; 20 have part-time employment; 20 do not have employment, but are actively looking for

employment; and 10 would like employment but do not have employment and are not actively looking for employment. The official unemployment rate as calculated by the U.S. Bureau of Labor would equal
A) (20/80 ) 100. B) (20/60 ) 100. C) (30/80 ) 100. D) (20/100 ) 100.