In a Cartel

question 46

Multiple Choice

In a cartel,

• A)all firms produce the same amount of output and earn the same profit
• B)all firms produce the same amount of output but earn different amounts of profit because their costs differ
• C)firms produce different amounts of output but earn the same profit
• D)firms with higher average cost produce more so that all firms earn the same profit
• E)firms with lower average cost often earn higher profits

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Definitions:

Southwestern United States

A region of the United States that includes states like Arizona, New Mexico, Texas, and parts of California and Nevada.

Pueblo Indians

Native American peoples of the Southwestern United States, known for their unique adobe dwellings and cultural traditions.

Bering Strait

A narrow body of water between the easternmost point of the Asian continent (Russia) and the westernmost point of the North American continent (Alaska) that connects the Arctic Ocean with the Pacific Ocean.

Atlantic Ocean

The second-largest ocean on Earth, bordered by the Americas to the west and Europe and Africa to the east, covering approximately 20 percent of the Earth's surface.