« previous next »

Author Question: When the market demand curve is relatively inelastic A) it is unrealistic for a cartel to form ... (Read 32 times)

melly21297

  • Hero Member
  • *****
  • Posts: 565
on: Jul 1, 2018
When the market demand curve is relatively inelastic
 
  A) it is unrealistic for a cartel to form because profits will be lower.
  B) penalties for forming an illegal cartel will be relatively low.
  C) the lower the price the cartel sets, the greater the benefits to the cartel.
  D) the higher the price the cartel sets, the greater the benefits to the cartel.

Question 2

If a monopolist in the output market purchases its monopoly supplier of labor, consumers benefit.
 
  What will be an ideal response?


mceravolo

  • Sr. Member
  • ****
  • Posts: 349
Reply #1 on: Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

True. The firm now pays a competitive price for its labor instead of the monopoly price. This lower wage shifts the firm's marginal cost curve downward. The result is a lower price charged to consumers.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

melly21297

  • Hero Member
  • *****
  • Posts: 565
Reply #2 on: Jul 1, 2018
Thank you


mceravolo

  • Sr. Member
  • ****
  • Posts: 349
Reply #3 on: Jul 1, 2018
No problemo


« previous next »
 

Did you know?

Carbamazepine can interfere with the results of home pregnancy tests. If you are taking carbamazepine, do not try to test for pregnancy at home.

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Did you know?

The effects of organophosphate poisoning are referred to by using the abbreviations “SLUD” or “SLUDGE,” It stands for: salivation, lacrimation, urination, defecation, GI upset, and emesis.

The age-dependent curve of salivary progresterone levels in three populations. The age-dependent curve of salivary progresterone levels in three populations.
Ore Deposits That Can Form in Stratovolcanoes Ore Deposits That Can Form in Stratovolcanoes
Drug tolerance: A shift in the dose-response curve to the right as a result of exposure to the drug. Drug tolerance: A shift in the dose-response curve to the right as a result of exposure to the drug.
Sample budget spreadsheet form for first year of business. Sample budget spreadsheet form for first year of business.
The growth in demand for oil in China is driven by the growth in demand for personal transport The growth in demand for oil in China is driven by the growth in demand for personal transport
IQ scores form what mathematicians call a normal distribution "bell curve" IQ scores form what mathematicians call a normal distribution "bell curve"
Video: Interview with Person who has Panic Attacks

For a complete list of videos, visit our video library