Choose ALL correct answers:Which of the followings is/are an example(s) of a tacitly collusive agreement?Group of answer choicesCoke and Pepsi decide to restrict their supplies together to earn higher profits.Coke decides to lower its price to get more market share after observing a high price charged by Pepsi.Pepsi decides to increase its quantity to earn a higher profit after observing a low quantity supplied by Coke.Coke and Pepsi both charge a low price for their soft drinks as they try to maximise their profit.Coke and Pepsi agree to charge a high price for their soft drinks to earn higher profits.

Choose ALL correct answers:Which of the followings is/are an example(s) of a cartel?Group of answer choicesPepsi decides to increase its quantity to earn a higher profit after observing a low quantity supplied by Coke.Coke and Pepsi both charge a low price for their soft drinks as they try to maximise their profit.Coke and Pepsi agree to charge a high price for their soft drinks to earn higher profits.Coke decides to lower its price to get more market share after observing a high price charged by Pepsi.Coke and Pepsi decide to restrict their supplies together to earn higher profits.

A limited partnership is composed of at least two or more limited partners.Group of answer choicesTrueFalse

When firms price discriminate they turn ___________ into ___________.Group of answer choicesproducer surplus, revenueconsumer surplus, profittotal cost, profitproducer surplus, consumer surplus

Which of the following is the best example of Agreement between OligopolistsSelect one:a.GATTb.OPECc.WTOd.UNIDO

Which of the following best explains why it is difficult to maintain lasting collusive agreements? aThere is an unavoidable conflict in that a collusive agreement can increase the profits of some, but not all, firms in the industry. bEach firm realizes that its profits would increase if it were the only firm to violate the collusive agreement by increasing its production slightly. cThere is little potential for gain from collusion unless there is a large number of consumers in the market. dEach firm in the industry views itself as facing a vertical demand curve, even though the market demand curve is downward sloping.