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 98 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

TheDev123

  • Member
  • Posts: 332
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Children of people with alcoholism are more inclined to drink alcohol or use hard drugs. In fact, they are 400 times more likely to use hard drugs than those who do not have a family history of alcohol addiction.

Did you know?

The FDA recognizes 118 routes of administration.

Did you know?

Intradermal injections are somewhat difficult to correctly administer because the skin layers are so thin that it is easy to accidentally punch through to the deeper subcutaneous layer.

Did you know?

Stroke kills people from all ethnic backgrounds, but the people at highest risk for fatal strokes are: black men, black women, Asian men, white men, and white women.

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Various members of the Sciuridae family Various members of the Sciuridae family
GUIDELINES FOR ASSESSING MEMBERS OF VULNERABLE POPULATION GROUPS GUIDELINES FOR ASSESSING MEMBERS OF VULNERABLE POPULATION GROUPS
Australopithecus sediba shares small brain size with other members of Australopithecus but also has Australopithecus sediba shares small brain size with other members of Australopithecus but also has
Selfie stick Selfie stick
Photos of starving children, such as this child in Somalia, haunt Americans and other members of the ... Photos of starving children, such as this child in Somalia, haunt Americans and other members of the ...
Recently discovered members of the deep pelagic community Recently discovered members of the deep pelagic community
Video: Peptide Bond Formation Animation

For a complete list of videos, visit our video library