exam 4 ch 13 & 14 - Grades Worksheets Assignments...

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Grades Worksheets Assignments Practice Tests Quizzes Exams Surveys
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User : Alaa Alakeely In Course : PRIN ECONOMICS II ( ECN 222W SU810 09 SP) Instructor : Edward T Derbin Your score on this exam is 90 out of 100 . Instructions : You have one hour and 30 minutes to complete your exam. Once you begin (open) this exam, the clock is ticking, so plan accordingly. You will have plenty of time to complete it. Answer Key Question 1 (Worth 5 points) Collusion is perfectly legal in the U.S. True False This is a correct answer Points earned on this question : 5 Question 2 (Worth 5 points) Oligopolies exist and do not attract new rivals because of barriers to entry. True This is a correct answer
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False Points earned on this question : 5 Question 3 (Worth 5 points) An oligopoly firm can escape the prisoners' dilemma by advertising that the firm will match whatever price the other firm advertises. True This is a correct answer False Points earned on this question : 5 Question 4 (Worth 5 points) An example of a firm with little bargaining power with respect to a buyer is an oil company. True False This is a correct answer Points earned on this question : 5 Question 5 (Worth 5 points) The type of characteristics of members that would result in the highest
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cartel total profit are equal sized firms that produce identical products at equal levels of output.
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