After Participating Members of a Cartel Form an Agreement on Common

question 209

Multiple Choice

After participating members of a cartel form an agreement on common prices and output quotas, then an individual firm can increase its own profits by

• A) increasing production.
• B) increasing prices.
• C) leaving the cartel.
• D) incurring higher input costs.

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Definitions:

Racism

Prejudice, discrimination, or antagonism directed against individuals or groups based on their race or ethnicity, often stemming from a belief in racial superiority or inferiority.

Internal Colonialism

A concept that explains how a country's dominant group exploits minority groups for its economic advantage, often creating economic and political inequalities within a nation.

Brain Size

The physical measurement of the brain's volume, often discussed in relation to cognitive abilities or evolutionary biology.

Conditioned Stimulus

A previously neutral stimulus that, after association with an unconditioned stimulus, comes to elicit a conditioned response.