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Author Question: Cartels can more easily detect cheating by cartel members if the products sold by each member are ... (Read 208 times)

jake

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on: Jul 1, 2018
Cartels can more easily detect cheating by cartel members if the products sold by each member are largely homogeneous.
 
  As product quality varies, the observed prices charged by cartel members may be due to differences in the products, or they may be due to cheating. Which of the following goods would more difficult to monitor for potential cheating? A) Aluminum ingots
  B) Industrial concrete
  C) Steel beams
  D) Luxury yachts

Question 2

A few sellers may behave as if they operate in a perfectly competitive market if the market demand is:
 
  A) highly inelastic.
  B) very elastic.
  C) unitary elastic.
  D) composed of many small buyers.


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tranoy

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Reply #1 on: Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

B


jake

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Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

covalentbond

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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