This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Cartels are typically subject to cheating by their members because A) if the other firms stick to ... (Read 95 times)

EY67

  • Hero Member
  • *****
  • Posts: 531
on: Jun 29, 2018
Cartels are typically subject to cheating by their members because
 
  A) if the other firms stick to the agreement, a firm can increase its profits by cutting its price.
  B) barriers to entry do not exist so new entrants will join.
  C) the U.S. Justice Department will punish any cartel agreement before the cartel has had a chance to operate.
  D) product differentiation allows the firms in the cartel to cheat.

Question 2

Paul's monthly income decreased from 2,500 to 2,300. As a result, he decreased the number of DVDs he rents per month from 5 to 4. Paul's demand for DVD rentals is
 
  A) price elastic.
  B) price inelastic.
  C) income elastic.
  D) income inelastic.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

brittrenee

  • Sr. Member
  • ****
  • Posts: 321
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

C


EY67

  • Member
  • Posts: 531
Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

at

  • Member
  • Posts: 359
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

Did you know?

Eat fiber! A diet high in fiber can help lower cholesterol levels by as much as 10%.

Did you know?

Always store hazardous household chemicals in their original containers out of reach of children. These include bleach, paint, strippers and products containing turpentine, garden chemicals, oven cleaners, fondue fuels, nail polish, and nail polish remover.

Did you know?

Pink eye is a term that refers to conjunctivitis, which is inflammation of the thin, clear membrane (conjunctiva) over the white part of the eye (sclera). It may be triggered by a virus, bacteria, or foreign body in the eye. Antibiotic eye drops alleviate bacterial conjunctivitis, and antihistamine allergy pills or eye drops help control allergic conjunctivitis symptoms.

Did you know?

Patients should never assume they are being given the appropriate drugs. They should make sure they know which drugs are being prescribed, and always double-check that the drugs received match the prescription.

The Dall sheep, Ovis dalli, a mountain sheep of far northern North America, was the subject of one o The Dall sheep, Ovis dalli, a mountain sheep of far northern North America, was the subject of one o
Urinalysis. During a simple urinalysis, a stick with colored blocks is dipped into a urine specimen. Urinalysis. During a simple urinalysis, a stick with colored blocks is dipped into a urine specimen.
Selfie stick Selfie stick
Weather Typically Associated with a Warm Front (North America) Weather Typically Associated with a Warm Front (North America)
Members of Sierra Leonean Diaspora Community in London Members of Sierra Leonean Diaspora Community in London
The frequency of bipolar illness in members of monozygotic twin pairs and in first-degree relatives The frequency of bipolar illness in members of monozygotic twin pairs and in first-degree relatives
Video: Arthritis

For a complete list of videos, visit our video library