Suppose that the firms collude and become a cartel The best level of output for the cartel as a whole is ___________ the price equals __________ and profits total __________?

Related Mcqs:

Most of developing-country exports consist of ?

A. primary products such as tin and bauxite B. intermediate products C. labor-intensive agricultural products D. labor-intensive manufacturing products...

Tariff levels in advanced countries tend to be __________ tariff levels in developing countries?

A. higher than B. equal to C. lower than D. there is no general pattern...

The Generalized System of Preferences (GSP) program allows ?

A. developing country export to advanced countries to receive preferential tariff treatment B. developing country imports from advanced countries to receive preferential tariff treatment C. any developing country to ignore the most-favored nation clause D. any advanced country to ignore the most favored-nation clause...

Because supply and demand conditions for primary products are very price inelastic their prices ?

A. have been steadily rising in recent decades B. have been more stable than the prices of manufactured goods C. fluctuate about as much as the prices of manufactured goods D. tend to be very unstable from year to year...

_________ policies attempt to foster industrialization by establishing high barriers to imports of foreign goods to promote local production ?

A. absolute advantage B. comparative advantage C. export-led growth D. import substitution...