If one cigarette company raises its prices and the next day all the other companies in the industry raise their prices by the same amount, this industry would be using _________ to set prices.
Fill in the blank(s) with the appropriate word(s).
price leadership
You might also like to view...
According to the quantity theory of money demand
A) an increase in interest rates will cause the demand for money to fall. B) a decrease in interest rates will cause the demand for money to increase. C) interest rates have no effect on the demand for money. D) an increase in money will cause the demand for money to fall.
The shadow banking system refers to
A) nonbank financial intermediaries. B) banks that operate in the underground economy. C) banks that lend exclusively to foreign governments. D) all banks that are insured by the Federal Deposit Insurance Corporation.
A firm recently doubled in size and experienced a reduction in the average total cost of production, as it was able to spread its fixed costs over a larger quantity of output. Which of the following should be the correct strategy of the firm after expansion? a. The firm should continue to grow slowly to see if sustained growth leads to greater economies of scale. b. The firm should continue to
grow rapidly to see if rapid growth leads to greater economies of scale. c. The firm should continue to grow exponentially to see if exponential growth leads to greater economies of scale. d. The firm should sell off portions of the business to profit from the economies of scale already received.
Which is the accurate statement?
A. There is no evidence that there is such a thing as global warming. B. By the end of the century, most of the cities on the east coast and the west coast will be under water. C. The effects of global warming are uncertain. D. Scientific opinion is virtually unanimous about the effects of global warming.