Which of the following does not hinder successful price leadership?
a. all of the following are correct
b. potentially large economic profits due to this activity
c. cheating by offering secret discounts
d. product differentiation
e. illegality of coordinated pricing
B
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In the long run, monopolistically competitive firms make zero economic profits because of government regulations
Indicate whether the statement is true or false
If the discount rate is lowered further below the market interest rate, banks tend to
A) lend more to the Fed. B) lend less to the Fed. C) borrow more from the Fed. D) borrow less from the Fed.
Many economists believe that restrictions against ticket scalping result in each of the following except
a. a smaller audience for cultural and sporting events. b. shorter lines at cultural and sporting events. c. less tax revenue for the state. d. an increase in ticket prices.
In a perfectly competitive market, individual production decisions have no impact on the market. Why does this happen?
a. The industry is unchangeable and thus impervious to outputs. b. The industry is unpredictable and thus resistant to outputs. c. The industry is huge and, in comparison, each firm is very small. d. The industry is small and, in comparison, each firm is huge.