An agreement among members of an oligopoly to set prices and production levels is called collusion.

Inventions like celluar phones can affect the government's antitrust policies because the tenology causes the need for more strict regulation than before.

To an economist, the word speculation typically means:

Making high-risk investments with borrowed money.

if the revenue from the good being manufactured exceeds the operating cost would it make sense for a factory that is losing money to remain in operation.

To create a market supply schedule, an economist needs to know the total output of all suppliers in a given market. TRUE.