If There Are a Large Number of Sellers in a Market

question 92

Multiple Choice

If there are a large number of sellers in a market,

• A)it is difficult for firms to cheat on a collusive agreement
• B)a cartel is unlikely to break down
• C)prices are higher than in smaller markets
• D)a cartel is likely to break down
• E)perfect competition occurs in the long run

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Definitions:

Heritability Coefficient

A statistical estimate that indicates how much of a trait's variation in a population is due to genetic differences among individuals.

Phobias

Irrational fears of specific objects, activities, or situations that lead to avoidance behavior.

Alcoholism

A chronic disease characterized by uncontrolled drinking and preoccupation with alcohol, leading to significant impairment or distress.

Extraversion

A personality trait characterized by sociability, talkativeness, and a tendency to seek stimulation in the company of others.