In new york city, 50 bakeries formed an association. they developed a system of distribution under which stores were allowed to buy only from a single baker. a store that wanted to shift to another baker had to consult the association and pay cash to the former baker. the association also decided to raise the retail price of bread. all the association’s members printed the new price on their bread sleeves. are the bakeries in violation of the antitrust laws?

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.

The correct answer is d