In a cartel member firms may be given a fixed amount to produce. This is called a ?

Related Mcqs:

If a few firms dominate an industry the market is known as ?

A. monopolistic competition B. Competitively monopolistic C. Duopoly D. Oligopoly...

A situation in which oligopolists interacting with one another each choose their best strategy given the strategies that all the other oligopolists have chosen is known as a ?

A. Nash equilibrium B. dominant strategy. C. cartel D. collusion solution...

Collusion is difficult for an oligopoly to maintain ?

A. all of these answers B. if additional firms enter of the oligopoly C. because antitrust laws (also known as competition laws) make collusion illegal D. because, in the case of oligopoly self-interest is in conflict with cooperation....

As the number of sellers in an oligopoly increases ?

A. output in the market tends to fall because each firm must cut back on production B. the price in the market moves further from marginal cost C. collusion is more likely to occur because a larger number of firms can place pressure on any firm that defects D. The price in the market moves … As the number of sellers in an oligopoly increases ?Read More...

Many economics argue that resale price maintenance ?

A. has a legitimate purpose of stopping discount retailers from free riding on the services provided by full services retailers? B. is price fixing and, therefore is prohibited by law C. is price fixing and therefore, is prohibited by law and enhances the market power of the producer D. enhances the market power of the … Many economics argue that resale price maintenance ?Read More...