Answer:
True
Explanation:
Cartel
It is important to define a cartel before explaining the question. A Cartel represents a group of firms that come together for making price and output decisions about their products.
Monopoly is one of the main reasons for the rise of Cartels. Cartel members are organisations in markets where there are very few firms and each firm has a significant share of the markets. An example of this is the Organisation of Petroleum Exporting Countries (OPEC).
The Petroleum market is monopolistic in the sense that a few countries are responsible for the crude oil and related products that are used by all countries around the world, hence, OPEC was formed to regulate the actions; production level and price of the Oil produced and processed for regulatory purposes.
Why it is difficult to maintain Cartel Agreements
It is difficult to maintain cartel agreements because individual members will always attempt to cheat and by-pass the agreement to produce beyond the agreed quota just to increase their share of the cartel's profits.
Individual members can always produce above their quota to take advantage of the large market and monopolistic situation to make more monopoly profit.
This difficulty is one of the reasons why there are few Cartels available and it is also why the OPEC has had difficulties monitoring the activities of its members over the years.
18.25%
0.05% x 365 (days in a year)
Answer:
1. buy more salads and fewer sandwiches.
Explanation:
As we know that
Therefore
Now the price ratio is
It is probable if you rising marginal utility numbering and reduce denominator marginal utility. If you reduce their intake, the MU of a food item will raise. Such decrease in the composition would make the quantity of the food element scarce. And its usefulness goes up. The Numerator here is sandwich MU. And to increase their marginal utility, you can reduce sandwich consumption.
Salad should need just the reverse. You raise salad intake so the MU reduces. Therefore you have to eat more salads and less chicken sandwiches to maximise the utility. So, salad is replaced by sandwiches for chicken.
Answer:
False
Explanation:
Igor did nothing wrong. He performed a reverse engineering process which is totally legal. A reverse engineering process happens when a manufactured object is deconstructed in order to find out how it was designed or manufactured.
This process is very similar to scientific research, only that it is carried out on man made objects.
