A group of firms that gets together to make price and output decisions is called ?

Related Mcqs:

Which of the following is most likely to be a variable cost for a firm ?

A. The franchiser’s fee that a restaurant must pay to the national restaurant chain B. The payroll taxes that are paid on employee wages. C. The monthly rent on office space that it leased for a year D. The interest payments made on loans....

The normal rate of profit for relatively risk-free firms will be _________ the interest rate on risk-free government bonds?

A. approximately one-half B. smaller than C. larger than D. approximately equal to...

A firm in perfectly competitive industry is producing 50 units, its profit-maximising quantity. Industry price is £2 and total fixed costs and total variable cost are £25 and £40 respectively. The firm’s economic profit is ?

A. £35 B. £15 C. £30 D. £60...

An industry that has a relatively small number of firms that dominate the market is called ?

A. a colluding industry B. a merged industry C. a concentrated industry D. a natural monopoly...

A price- and quantity-fixing agreement is known as?

A. price leadership B. price concentration C. collusion D. game theory,...