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

Author Question: Compared with price searchers' markets, price takers' markets are likely to result in A) less ... (Read 81 times)

Marty

  • Hero Member
  • *****
  • Posts: 553
on: Jun 29, 2018
Compared with price searchers' markets, price takers' markets are likely to result in
 
  A) less advertising.
  B) less competition.
  C) lower output.
  D) more profit.

Question 2

OPEC was able to function as an extremely successful cartel in the last half of the 1970s because
 
  A) it was an association of governments rather than of private individuals.
  B) it was able to separate OPEC oil from non-OPEC oil and to engage in price discrimination.
  C) the increasing scarcity of oil produced an upward-sloping marginal revenue curve.
  D) the widespread expectation of much higher future prices discouraged current production.
  E) wars in the Middle East raised the marginal cost of producing oil.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

peter

  • Sr. Member
  • ****
  • Posts: 330
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

D


Marty

  • Member
  • Posts: 553
Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

nathang24

  • Member
  • Posts: 314
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

After 5 years of being diagnosed with rheumatoid arthritis, one every three patients will no longer be able to work.

Did you know?

The average person is easily confused by the terms pharmaceutics and pharmacology, thinking they are one and the same. Whereas pharmaceutics is the science of preparing and dispensing drugs (otherwise known as the science of pharmacy), pharmacology is the study of medications.

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

Did you know?

There are over 65,000 known species of protozoa. About 10,000 species are parasitic.

Evolution of the Sun's luminosity, radius and effective temperature compared to the present Sun Evolution of the Sun's luminosity, radius and effective temperature compared to the present Sun
Compared to a chimpanzee, the human newborn has relatively little room to spare as it passes through Compared to a chimpanzee, the human newborn has relatively little room to spare as it passes through
Farmers’ markets provide fresh, local produce to consumers Farmers’ markets provide fresh, local produce to consumers
The Economics of Money, Banking and Financial Markets, Business School Edition The Economics of Money, Banking and Financial Markets, Business School Edition
The "Yes - Markets Self-Adjust" and "No - Markets Fail Often" camps agree The "Yes - Markets Self-Adjust" and "No - Markets Fail Often" camps agree
"The Department of Agriculture came out today with its prediction for food price "The Department of Agriculture came out today with its prediction for food price
Video: Isovolumetric VC, Ventricular ejection, Isovolumetric & Passive ventricular filling

For a complete list of videos, visit our video library