Table: Three-Country Oil ProductionTotal Market Output (units)Market Price600$90800801,000701,200601,400501,600401,80030Suppose that three countries are engaged in oil production. For simplicity, assume zero costs so that revenue equals profit. If the countries create a cartel and agree to mimic monopoly-like behavior, what level of output will each firm produce?

The supply of nurses in country A is the same as the supply in country B, but the nurses in country A earn 90% more than the nurses in country B. What can explain this difference?

Figure: Demand 1A cartel facing the market in this diagram would try to cause industry output to:

Table: Three-Country Oil ProductionTotal Market Output (units)Market Price600$90800801,000701,200601,400501,600401,80030Suppose that three countries are engaged in oil production. For simplicity, assume zero costs so that revenue equals profit. Assume that the three countries have already formed a cartel, and are collectively producing at the profit maximizing price and quantity. Country A decides to cheat on the cartel agreement by producing 200 more barrels than the other two countries. What is the new market price when country A cheats on the agreement?

A cable television show such as The Sopranos is:

An employer prefers to hire women only. This is an example of:

Monopolistically competitive firms are able to charge:

Figure: Cleaners’ Wages​How many cleaners will this firm hire at a wage of $20?

A university student who does not attend athletic events paid for by an athletic fee he is required to pay is a(n):

National defense is an example of a: