Which of the following gives the best definition of cartel?

a. a condition of the industry that falls between the extremes of monopolistically competitive and perfectly competitive
b. a state of the industry when a few large firms have all or most of the sales
c. a condition of the industry in which many firms compete to sell similar but differentiated products
d. a group of firms that formally collude to produce the monopoly output and sell at the monopoly price

Needs 83,000 optical switches next year (assume same relevant range). by outsourcing them, worldsystems can use its idle facilities to manufacture another product that will contribute $ 140,000 to operating income, but none of the fixed costs will be avoidable. should worldsystems make or buy the switches? show your analysis.

Investment x offers to pay you $5,700 per year for 9 years, whereas investment y offers to pay you $8,300 per year for 5 years. if the discount rate is 6 percent, what is the present value of these cash flows? (do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) present value investment x $ investment y $ if the discount rate is 16 percent, what is the present value of these cash flows? (do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) present value investment x $ investment y

Acoase solution to a problem of externality ensures that a socially efficient outcome is to