When Firms in an Industry Jointly Make Pricing and Output

question 37

Multiple Choice

When firms in an industry jointly make pricing and output decisions, they are

• A) dumping.
• B) colluding.
• C) arbitrating.
• D) regulating.
• E) trying to irritate the government.

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Definitions:

Allopatric Speciation

A mode of speciation occurring when biological populations of the same species become isolated from each other to an extent that prevents or interferes with genetic interchange.

Parapatric Speciation

A mode of speciation in which new species evolve in adjacent or overlapping geographic areas, often due to differences in habitat or environmental pressures.

Sympatric Speciation

The process by which new species evolve from a single ancestral species while inhabiting the same geographic region.

Reproductive Isolation

Reproductive isolation occurs when reproductive barriers prevent or strongly limit reproduction between populations. The result is that few or no genes are exchanged between the populations.