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Author Question: In a cartel A) each firm has an incentive to decrease its own production below the level set by ... (Read 151 times)

elizabeth18

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on: Jun 29, 2018
In a cartel
 
  A) each firm has an incentive to decrease its own production below the level set by the cartel.
  B) the firms' marginal cost equals the price set by the cartel.
  C) each firm has an incentive to lower its price below the level set by the cartel.
  D) each firm has an incentive to raise its price above the level set by the cartel.

Question 2

The above table shows Tammy's total utility from videos and CDs. If Tammy has 70 to spend on videos and CDs and if the price of a video is 10 and the price of a CD is 20, then Tammy maximizes her utility by purchasing
 
  A) 3 CDs and 1 video.
  B) 1 CD and 5 videos.
  C) 2 CDs and 3 videos.
  D) none of the above


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robbielu01

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

C

Answer to Question 2

C


elizabeth18

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

apple

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Reply 3 on: Yesterday
Wow, this really help

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