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

Author Question: Each firm in a cartel has an incentive to chisel because market price exceeds a. marginal cost. b. ... (Read 126 times)

nummyann

  • Hero Member
  • *****
  • Posts: 576
on: Jul 1, 2018
Each firm in a cartel has an incentive to chisel because market price exceeds
 a. marginal cost.
  b. average cost.
  c. average variable cost.
  d. average fixed cost.

Question 2

All of the following are problems associated with maintaining a cartel except
 a. cartels are illegal.
  b. a large amount of information is needed to coordinate a cartel.
  c. profits are not maximized by a cartel so it will evolve into a monopoly.
  d. each member of the cartel has an incentive to chisel by expanding output.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

sabina576

  • Sr. Member
  • ****
  • Posts: 356
Reply #1 on: Jul 1, 2018
Answer to Question 1

a

Answer to Question 2

c


nummyann

  • Member
  • Posts: 576
Reply 2 on: Jul 1, 2018
:D TYSM

mjenn52

  • Member
  • Posts: 351
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

The term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

Did you know?

Approximately one in three babies in the United States is now delivered by cesarean section. The number of cesarean sections in the United States has risen 46% since 1996.

Did you know?

Although not all of the following muscle groups are commonly used, intramuscular injections may be given into the abdominals, biceps, calves, deltoids, gluteals, laterals, pectorals, quadriceps, trapezoids, and triceps.

Did you know?

More than 2,500 barbiturates have been synthesized. At the height of their popularity, about 50 were marketed for human use.

Did you know?

The oldest recorded age was 122. Madame Jeanne Calment was born in France in 1875 and died in 1997. She was a vegetarian and loved olive oil, port wine, and chocolate.

Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896 Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896
Typical Startup Cost Categories Cont. Typical Startup Cost Categories Cont.
Marginal Supply - Demand Curve Marginal Supply - Demand Curve
Infant formula is available in several forms and varies in cost and ingredients Infant formula is available in several forms and varies in cost and ingredients
Cost Accounting 14 Cost Accounting 14
Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ... Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ...
Video: Gastroesophageal Reflux Disease (GERD)

For a complete list of videos, visit our video library