Use the Following Scenario to Answer the Following Questions

question 154

Multiple Choice

Use the following scenario to answer the following questions:
Kit-N-Sit and Kittysitters are two cat-sitting services in Kent,Ohio.There are no other cat-sitting services,so the market is considered to be a duopoly.
-When firms in an oligopoly collude without an explicit agreement,economists say they are involved in ________ collusion.

• A) illegal
• B) tacit
• C) game theoretic
• D) predatory
• E) marginal

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Definitions:

Output Technologies

Refers to the devices and methods used to convey processed data and information from a computer to the user, such as monitors, printers, and speakers.

Data

Facts and statistics collected together for reference or analysis.

Information

Data that have been organized so that they have meaning and value to the recipient.

Mainframes

Powerful computers used primarily by large organizations for critical applications, bulk data processing such as census, industry and consumer statistics, enterprise resource planning, and financial transaction processing.