Author Question: If all producers in a market are cartel members, then the demand curve facing the cartel is A) ... (Read 141 times)

MirandaLo · **on:** Jul 1, 2018

If all producers in a market are cartel members, then the demand curve facing the cartel is

A) the market demand curve.
B) horizontal.
C) identical to the demand curve in the dominant firm model.
D) identical to the monopolist's demand curve.

Question 2

When there are externalities, economic efficiency can be achieved without government intervention

A) at no time.
B) when the externality affects many people and property rights are not well defined.
C) when the externality affects many people and property rights are well defined.
D) when the externality affects only a few parties and property rights are not well defined.
E) when the externality affects only a few parties and property rights are well defined.