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

Author Question: A cartel: a. is a group of firms formally agreeing to control the price and the output of a ... (Read 64 times)

CQXA

  • Hero Member
  • *****
  • Posts: 546
on: Jun 30, 2018
A cartel:
 a. is a group of firms formally agreeing to control the price and the output of a product.
  b. has as its primary goal to reap monopoly profits by replacing competition with cooperation.
  c. is illegal in the United States, but not in other nations.
  d. all of these.

Question 2

Which of the following is true about average fixed cost?
 a. Average fixed cost has a U-shape, and marginal cost crosses average fixed cost at its minimum point.
  b. Average fixed cost does not vary as output increases.
  c. Average fixed cost is the difference between marginal cost and average total cost.
  d. Average fixed cost is total fixed cost divided by the quantity of output produced, and it declines steadily as output increases.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

gasdhashg

  • Sr. Member
  • ****
  • Posts: 335
Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

d


CQXA

  • Member
  • Posts: 546
Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

flexer1n1

  • Member
  • Posts: 373
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

Did you know?

A strange skin disease referred to as Morgellons has occurred in the southern United States and in California. Symptoms include slowly healing sores, joint pain, persistent fatigue, and a sensation of things crawling through the skin. Another symptom is strange-looking, threadlike extrusions coming out of the skin.

Did you know?

Illness; diuretics; laxative abuse; hot weather; exercise; sweating; caffeine; alcoholic beverages; starvation diets; inadequate carbohydrate consumption; and diets high in protein, salt, or fiber can cause people to become dehydrated.

Did you know?

Blood is approximately twice as thick as water because of the cells and other components found in it.

Did you know?

The average older adult in the United States takes five prescription drugs per day. Half of these drugs contain a sedative. Alcohol should therefore be avoided by most senior citizens because of the dangerous interactions between alcohol and sedatives.

Lateral Group of Descending Motor Tracts Lateral Group of Descending Motor Tracts
The proportion of obese and extremely obese adults in the United States has increased over the past The proportion of obese and extremely obese adults in the United States has increased over the past
Negative feedback control of a regulated variable. Negative feedback control of a regulated variable.
Internal and External Loci of Control Internal and External Loci of Control
Phrenology model showing areas of the head overlaying brain regions that control different traits. I Phrenology model showing areas of the head overlaying brain regions that control different traits. I
Competitive firms and maximization Competitive firms and maximization
Video: Labor and Childbirth - The Three Stages of Labor: Dilation, Expulsion & Placental مراحل الولادة

For a complete list of videos, visit our video library