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Author Question: Cartel members have an incentive to cheat on the cartel because: a. the cartel does not maximize ... (Read 242 times)

magmichele12

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  • Posts: 559
on: Jun 30, 2018
Cartel members have an incentive to cheat on the cartel because:
 a. the cartel does not maximize profits.
  b. the cartel price is the competitive price.
  c. each member's output quota is too high.
  d. each member's MR is not equal to the cartel's MC.
  e. the industry profit would be higher under competitive conditions.

Question 2

The total fixed cost remains constant as which of the following varies?
 a. Cost of resources.
  b. Time.
  c. Output in a given period of time.
  d. Profit.


lauravaras

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Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

c


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