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?

Discrimination by employees:

If wheat farmers across multiple regions meet together to discuss and agree on setting prices for bushels of wheat for a certain geographic regions, these farmers are acting as a(n):

The American Medical Association:

A Delta Air Lines plane is an example of a:

A 2006 paper by Margeret Levenstein and Valerie Suslow (“What Determines Cartel Success?”) found that the following causes are common reasons why cartels break down: entering firms, the nature of the demand curve, growth of the industry, and bargaining difficulties. What other cause is also associated with bargaining difficulties?

Table: Mary, Silvia PayoffsSilviaCooperateCheatMaryCooperate$20, $20$10, $40Cheat40, 1015, 15Mary and Silvia are producers. If Mary cheats, what is Silvia’s dominant strategy?

Figure: Cartel SalesFive firms in an industry have equal and constant marginal costs and act as a cartel, with each firm agreeing to charge a price of $9. If they each sell an equal quantity of output, what revenue will each firm earn?

It is difficult to get people to pay for public goods voluntarily because these goods are: