Which of the Following Crops Is NOT One with Which

question 159

Multiple Choice

Which of the following crops is NOT one with which local Caribbean farmers have been experimenting as a substitute for bananas?

• A) tomatoes
• B) peanuts
• C) marijuana
• D) okra
• E) avocados

---

Definitions:

Cartels

Groups of independent market participants who collude to control prices and output in an industry to maximize their collective profits.

Inelastic Demand

A situation where the demand for a good or service changes very little in response to changes in price.

Cournot Model

A model of oligopoly in which firms choose their output levels simultaneously, assuming the output of the rivals as given, to maximize their own profit.

Collude

To come to a secret understanding for a harmful purpose; conspiracy between firms to fix prices or otherwise restrict competition.