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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.
Monetary Policy
The process by which a government, central bank, or monetary authority manages the supply of money and interest rates to achieve macroeconomic objectives.
Economic Policy
The strategies and actions taken by a government to manage the economy and influence economic conditions including taxation, government budgets, and interest rates.
Loopholes
Provisions or omissions in laws, taxes, or contracts that allow individuals or entities to avoid or circumvent their intended effect, often leading to exploitation.
Businesses Behavior
The patterns, practices, and ethical decisions made by companies in the pursuit of their objectives, including how they interact with their stakeholders, the environment, and the economy.
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