The pricing strategy in which one firm is allowed to establish the market price for all firms in the market is called

A. The profit-maximizing rule.
B. Price leadership.
C. Marginal cost pricing.
D. Price discrimination.


Answer: B

Economics

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Game theory is the tool that economists use to analyze strategic behavior, which is behavior that takes into account the ________ behavior of others and the mutual recognition of ________

A) unexpected; interdependence B) unexpected; independence C) expected; interdependence D) expected; independence E) random; profit

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The Herfindahl-Hirschman Index is definitely larger in a ________ market than in a ________ market

A) monopoly; perfectly competitive B) monopolistic competitive; monopoly C) perfectly competitive; monopoly D) perfectly competitive; monopolistic competitive

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The two parts of the Keynesian consumption function are consumption that depends on ________ and consumption that depends on ________.

A. planned spending; unplanned spending B. real income; nominal income C. money; wealth D. disposable income; factors other than disposable income

Economics