This topic contains a solution. Click here to go to the answer

Author Question: In a cartel A) each firm has an incentive to decrease its own production below the level set by ... (Read 140 times)

elizabeth18

  • Hero Member
  • *****
  • Posts: 559
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



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

robbielu01

  • Sr. Member
  • ****
  • Posts: 336
Answer to Question 1

C

Answer to Question 2

C




elizabeth18

  • Member
  • Posts: 559
Reply 2 on: Jun 29, 2018
:D TYSM


covalentbond

  • Member
  • Posts: 336
Reply 3 on: Yesterday
Great answer, keep it coming :)

 

Did you know?

Vital signs (blood pressure, temperature, pulse rate, respiration rate) should be taken before any drug administration. Patients should be informed not to use tobacco or caffeine at least 30 minutes before their appointment.

Did you know?

It is difficult to obtain enough calcium without consuming milk or other dairy foods.

Did you know?

Many people have small pouches in their colons that bulge outward through weak spots. Each pouch is called a diverticulum. About 10% of Americans older than age 40 years have diverticulosis, which, when the pouches become infected or inflamed, is called diverticulitis. The main cause of diverticular disease is a low-fiber diet.

Did you know?

Since 1988, the CDC has reported a 99% reduction in bacterial meningitis caused by Haemophilus influenzae, due to the introduction of the vaccine against it.

Did you know?

Approximately 70% of expectant mothers report experiencing some symptoms of morning sickness during the first trimester of pregnancy.

For a complete list of videos, visit our video library