Evaluate the Truthfulness of the Following Statements

question 36

Multiple Choice

Evaluate the truthfulness of the following statements
I. The horizontal sum of the marginal cost curves of individual plants is called multiplant marginal cost curve.
II. A group of producers that collusively determines the price and output in a market is cartel.

• A) I and II are true.
• B) I and II are false.
• C) I is true; II is false.
• D) II is true; I is false.

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Definitions:

Spontaneous

Occurring without apparent external cause; arising naturally and unexpectedly.

Technology

The application of scientific knowledge for practical purposes, especially in industry, including the invention and use of technical means and their interrelation with life, society, and the environment.

Political Biases

Preconceived notions or predispositions toward specific political parties, ideologies, or policy decisions, often resulting in a lack of impartial judgment.

Sociologist

A social scientist who studies the behaviors, structures, and functions of societies and social groups.