We have started a nonprofit to help provide disaster relief. You can feel free to define this to a specific cause (e.g., hurricanes, tornadoes, floods, earthquakes.) and/or country when answering the question. Please make sure to incorporate this scenario when answering the questions (e.g., use this for the examples). Please discuss car washes and food events in regards to this nonprofit. How would you incorporate these? What are some of the pros and cons? Which one do you think would work best here? Why?

A cartel attempts to regulate

When there are fewer substitutes for a product, the ________ for the product is ________.

When a cartel is successful,

The Wax Shop sells 400 candles at a price of $10 per candle. The Wax Shop’s total costs for producing 400 candles are $500. The Wax Shop’s economic profit is

Q P TR AR MR 6 $2,050 $12,300 $2,050 $2,050 12 $1,950 A $1,950 B 18 $1,850 $33,300 C $1,650 24 $1,750 D $1,750 E Table 1.3   In Table 1.3, A is

Perfect competition, monopoly, monopolistic competition, and oligopoly are all examples of

When increasing size leads to higher per unit costs, we say there are

Q P TR AR MR 11 $2,150 $23,650 $2,150 $2,150 22 $1,950 A $1,950 B 33 $1,750 $57,750 C $1,350 44 $1,550 D $1,550 E Table 1.4   In Table 1.4. E is $_______

A dominant strategy is