An organization of sellers designed to coordinate their supply ...

[lak]

An organization of sellers designed to coordinate their supply decisions to maximize joint profits is called a:
 a. consumer cooperative.
  b. marketing association.
  c. regulatory agency.
  d. cartel.

Question 2

The law of diminishing marginal returns implies that, in the short run:
 a. output must fall beyond a certain point.
  b. price must fall beyond a certain point.
  c. the marginal product of the variable input must eventually decrease.
  d. wages of workers must eventually increase.
  e. total cost must fall beyond a certain point.

[miss.ashley]

Answer to Question 1

d

Answer to Question 2

c

[lak]

Excellent

[duy1981999]

Thanks for the timely response, appreciate it