If oligopolists engaged in some sort of collusion, industry ...

[saliriagwu]

If oligopolists engaged in some sort of collusion, industry output would be __________ and the price would be __________ than under perfect competition.
 a. smaller, lower
  b. smaller, higher
  c. smaller, no different
  d. greater, lower
  e. greater, higher

Question 2

Which of the following is an example of an open-access resource?
 a. a city subway system
  b. a college education
  c. an elementary school education
  d. whales in the ocean
  e. pandas in the zoo

[beccamahon]

Answer to Question 1

B

Answer to Question 2

D