Answer: Option(D) is correct.
Explanation:
Correct option: Act as if they were monopolies.
Cartel is a group of few firms that work towards the common goal. Because all the cartel members works together, that's why they act like a monopolies.
They decided to produce at a level where their combined marginal revenue is equal to the combined marginal cost.
Because they behave like a monopolist, so they sell lesser quantity at a higher prices than would be in a perfectly competitive market.
Answer:
D) being unable to engage in all three of the above activities.
Explanation:
An opportunity cost is the cost (or lost benefit) of choosing one activity or investment over another. In this case, if the student decides to attend afternoon class, he/she will not be able to benefit from:
- taking a nap
- seeing a movie with a friend
- studying for next morning's test
So all the three activities represent the opportunity cost of attending afternoon class.
Answer:
Stories
Explanation:
Stories are the stuffs that the people hear about and like to discuss about. Stories are part of the organization culture and are a good means for an organization to affect customer choices because the issues of the customers are highlighted which helps organization to rectify its operations.
Answer:
they work hard and dedication
Explanation: