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

Author Question: Given the information in Scenario 4.3, erasers are: A) a normal good. B) an inferior good. C) ... (Read 126 times)

Destiiny22

  • Hero Member
  • *****
  • Posts: 557
on: Jul 1, 2018
Given the information in Scenario 4.3, erasers are:
 
  A) a normal good.
  B) an inferior good.
  C) neither normal nor inferior.
  D) complements.
  E) necessities.

Question 2

What happens to the profit-maximizing cartel price and quantity if the marginal cost of production declines?
 
  A) The sellers are no longer price takers, so the change in marginal cost has no impact on the cartel outcome.
  B) If demand is downward sloping, the optimal cartel price should decline and the market quantity should increase.
  C) The sellers retain the same pricing strategy and capture higher per-unit profits.
  D) The cartel price increases and market quantity declines.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

bigcheese9

  • Sr. Member
  • ****
  • Posts: 333
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

B


Destiiny22

  • Member
  • Posts: 557
Reply 2 on: Jul 1, 2018
:D TYSM

phuda

  • Member
  • Posts: 348
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Adults are resistant to the bacterium that causes Botulism. These bacteria thrive in honey – therefore, honey should never be given to infants since their immune systems are not yet resistant.

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

Did you know?

Stevens-Johnson syndrome and Toxic Epidermal Necrolysis syndrome are life-threatening reactions that can result in death. Complications include permanent blindness, dry-eye syndrome, lung damage, photophobia, asthma, chronic obstructive pulmonary disease, permanent loss of nail beds, scarring of mucous membranes, arthritis, and chronic fatigue syndrome. Many patients' pores scar shut, causing them to retain heat.

Did you know?

Computer programs are available that crosscheck a new drug's possible trade name with all other trade names currently available. These programs detect dangerous similarities between names and alert the manufacturer of the drug.

Information flows from the nucleus to the cytoplasm and back. Information flows from the nucleus to the cytoplasm and back.
Four types of cellular responses to positional information in animals. Four types of cellular responses to positional information in animals.
Hydronephrosis. Normal kidney (left) and kidney with hydronephrosis (right) are compared. Note the d Hydronephrosis. Normal kidney (left) and kidney with hydronephrosis (right) are compared. Note the d
Asthma. (a) A normal bronchiole. (b) An asthmatic bronchiole. During an asthma “attack,” the bronchi Asthma. (a) A normal bronchiole. (b) An asthmatic bronchiole. During an asthma “attack,” the bronchi
A possible “RNA world” scenario A possible “RNA world” scenario
Using alert labels enables the medical staff to quickly identify important information such as ... Using alert labels enables the medical staff to quickly identify important information such as ...
Video: Chemical Changes

For a complete list of videos, visit our video library