The kinked demand curve depicts
A. cut-throat competition.
B. cartels.
C. collusive oligopoly.
D. price leadership.
A. cut-throat competition.
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All of the following are considered among the four most important determinants in explaining exchange rate fluctuations in the long run except
A) relative rates of productivity growth across countries. B) preferences for domestic and foreign goods. C) tariffs and quotas. D) interest rates.
The optimal public policy to correct for negative pecuniary externalities is _____
a. corrective taxation and compensation b. subsidization c. corrective taxation without compensation d. nothing
According to the above table, a surplus exists when
A) the price is $1 per unit. B) the price is $2 per unit. C) the price is $3 per unit. D) the price is greater than $3 per unit.
For a nondiscriminating monopolist, describe the relationship between market price (P), average revenue (AR), and marginal revenue (MR)
a. P = AR = MR b. P > AR = MR c. P = AR > MR d. P > AR > MR e. P = AR < MR