Formally effective a cartel

To form and effectively keep a cartel over time needs that the: (w) bulk of output be produced and sold by a minute number of cartel members. (x) product be relatively heterogeneous. (y) demand for the product be highly elastic. (z) government totally avoids the cartel.

Hey friends please give your opinion for the problem of Economics that is given above.

View Complete Question

Related Questions in Microeconomics

Q : Imperfect competition-Firms having

As MRP < VMP in imperfect competition whenever firms encompass market power as sellers then: (1) MPPL = VMP. (2) The price of output surpasses MFC. (3) Monopolistic exploitation becomes essential to get profit. (4) Imperfect competition can’t reach the equili

Q : Bonds and Market Interest Rates

Increases within market interest rates are probably to be related with: (1) people’s increasing desires for vast “nest eggs” for security while they retire. (2) bursting a speculative bubble into prices for hi-tech stocks. (3) increa

Q : Experience of mill for constant cost

When generic lumber processing is a constant cost industry, within the long run this lumber mill is probable to experience a: (i) a severe shrinking of economic profit to zero. (ii) a decline within the price of 2×4s to about $2.40 apiece. (iii)

Q : Determine supply curve as perfectly

Suppose that all these given demonstrated curves in below are infinitely long straight lines. There supply curve that is perfectly price-inelastic is: (i) supply curve S1. (ii) supply curve S2. (iii) supply curve S3. (

Q : Define utility Utility : The wants

Utility: The wants satisfying power of a commodity is termed as utility.

Q : Discourage the formation of oligopolies

A factor tending to discourage the formation of huge oligopolies in the past two or three decades would be: (w) vigorous enforcement of anti merger laws. (x) technological advances which tended to favor smaller companies. (y) computerized internal inf

Q : Determine price elasticity of demand

For water the price elasticity of demand is: (w) low since the price is high. (x) high since the price is high. (y) high since there are few substitutes for water. (z) low since this has few substitutes and a low price.

Q : Official poverty rate for income

For U.S. families official poverty rates are: (w) higher than in most other countries. (x) very similar for different types of families. (y) higher for the middle class than for lower class families. (z) lower than in most other countries if poverty i

Q : Optimal market solution of marginal

From society’s point of view, an optimal market solution is attained while: (w) everyone’s income is equal. (x) all goods are given in the economy. (y) marginal social costs only equal marginal social benefits. (z) consumer surplus equals

Q : Price elasticity of demand DVDs of games

Moving from point c to point d beside demand curve D, the price elasticity of demand DVDs of video games equals: (1) 0.8. (2) one. (3) 1.10. (4) 1.25. (5) 2.50

Discover Q & A

Leading Solution Library

Avail More Than 1435442 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1942246
Asked

3,689

Active Tutors

1435442

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment