A leftward shift of the market demand curve for HDTVs, ceteris paribus, causes equilibrium price to
A. Decrease and quantity to decrease.
B. Increase and quantity to increase.
C. Decrease and quantity to increase.
D. Increase and quantity to decrease.
Answer: A
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If two duopolists can collude successfully, then both will
A) earn greater profits than if they did not collude. B) price at marginal cost. C) price below average total cost. D) lower their economic profits.
What are the functions for MC and AC if TC = 100q + 100q2? Are the returns to scale increasing, decreasing, or constant?
What will be an ideal response?
An increase in the price of fish will shift the demand curve for chicken to the right (assuming fish and chicken are substitutes)
Indicate whether the statement is true or false
Campbell Soup agrees to sell its brand to a grocery chain only if the chain also agrees to buy a minimum number of cases of its V-8 juice. This is an example of:
A. a resale price maintenance agreement. B. a tying agreement. C. exclusive dealing. D. price discrimination.