A firm whose price is matched by other firms in the market as a form of tacit collusion is called:
a. a profit maximizing firm.
b. a price taking firm.
c. an output leader.
d. a price leader.
d
Economics
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How does a decrease in the price of one good affect a consumer's budget constraint? How is the effect different from a decrease in the consumer's income?
What will be an ideal response?
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In the economic way of thinking, capital contributes to
A) the exploitation of labor. B) wealth. C) greed. D) macroeconomic inefficiency. E) none of the above.
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Price floors are primarily targeted to help
a. No one b. Consumers c. Producers d. Government
Economics
A tax reduction shifts the consumption schedule downward
a. True b. False Indicate whether the statement is true or false
Economics