Suppose firms in a collusive oligopoly decide to establish their prices at a level that discourages new rivals from entering the industry. This is called:
A. mutual interdependence.
B. pricing the demand curve.
C. limit pricing.
D. price leadership.
Answer: C
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Purchasing power parity (PPP) measurements of income are a way to make international comparisons by correcting for national differences in
A) unemployment. B) inflation. C) prices of goods and services. D) economic growth. E) government subsidies.
How is money destroyed in the banking system?
The social problem of resource allocation requires society to decide
a. all of the following b. both d and e c. how output should be produced d. what goods and services should be produced e. who gets what society produces
The Federal Reserve Open Market Committee includes the seven members of the Board of Governors, presidents of five of the twelve district banks, and the Secretary of the Treasury
a. True b. False Indicate whether the statement is true or false