1.) Demand schedules are used to show how much of a product a company will produce at different costs. True

False

2.) Collusion occurs when companies agree to drop prices and increase production.

True

False

3.) A monopoly is characterized by a single seller of a product with no close substitutes.

True

False

4.) DeBeers is an example of a government monopoly.

True

False

5.) Incentives such as coupons or sales increase the likelihood that people will buy a product.

True

False

6.) A grievance procedure outlines the process workers should follow to resolve a dispute with an employer.

True

False