Author Question: Collusive action among producers creates higher prices for consumers because it: a. causes ... (Read 70 times)

washai · **on:** Jun 30, 2018

Collusive action among producers creates higher prices for consumers because it:
a. causes overproduction and inefficiency.
b. creates negative externalities.
c. forces producers to be more competitive.
d. allows producers to artificially restrict their supply.

Question 2

Which of the following is not a market failure?
a. A lack of competition in some markets.
b. Prices determined in competitive markets, which consumers, as individuals, have no control over.
c. The presence of externalities in some markets.
d. A lack of public goods desired by a majority of citizens.
e. Income inequality.