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:

Table: Acme and Hardscapes​​Acme’sStrategies​Hardscapes’s Strategies​High PriceLow PriceHigh Price$600, $600$100, $800Low Price$800, $100$200, $200​This table presents the profits earned by the brick producers Acme Brick and Hardscapes Brick. Profits are based on the price per cube each producer sells. Acme’s profits are listed first in each cell, and Hardscapes’s are listed second. Hardscapes’s dominant strategy is to charge a _____ price. Acme’s dominant strategy is to charge a _____ price.

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 resultant profit earned by country A?