Television stations have seemingly synchronized their commercial breaks. This is likely an example of
A) tacit collusion.
B) explicit collusion.
C) mixed strategies.
D) pure strategies.
A
You might also like to view...
Henry, a perfectly competitive lime grower in Southern California, notices that the market price of limes is greater than his marginal cost. What should Henry do?
A) expand his output to increase profits B) shut down and incur a loss equal to his total fixed cost C) advertise his limes to be able to sell more output D) look for the output level where marginal revenue minus marginal cost is maximized E) shut down and earn no profit but also incur no loss
A well-run bank assumes that all borrowers will repay their loans on time, irrespective of the condition of the economy
a. True b. False Indicate whether the statement is true or false
When the economy is going strong:
A. GDP growth is negative. B. demand for workers decreases. C. firms expand their operations. D. firms tend to lay off workers.
A market situation where a small number of sellers dominate the entire industry is called:
A. monopolistic competition. B. monopsony. C. monopoly. D. oligopoly.