If Oligopolists Engaged in Some Sort of Collusion, Industry Output

question 99

Multiple Choice

If oligopolists engaged in some sort of collusion, industry output would be __________ and the price would be __________ than under perfect competition.

• A)smaller, lower
• B)smaller, higher
• C)smaller, no different
• D)greater, lower
• E)greater, higher

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Definitions:

Life Expectancy

An average estimate of how long a person or organism is expected to live, based on factors such as genetics, lifestyle, and healthcare accessibility.

Trust Fund Bonds

Financial instruments issued by a trust to raise funds for investment purposes, backed by the assets managed within the trust.

Government Borrowing

The process by which a government raises funds through issuing debt instruments, such as bonds, to finance public spending beyond tax revenues.

Surplus Funds

Excess money that remains after all expenses and obligations have been met, which can be saved or invested.