Price leadership represents a situation where monopolistic firms:
A. Reduce their reliance on non price competition
B. Form a cartel
C. Face a kinked demand curve
D. Tacitly collude
D. Tacitly collude
You might also like to view...
Which of the following statements is consistent with the views of Joseph Schumpeter?
A) An economy benefits from firms having market power because these firms are more likely to be able to commit funds for research and development. B) Enforcement of antitrust laws is necessary to promote competition among firms. C) A lack of competition discourages firms from developing new technologies. D) Research and development by competitive firms is responsible for most technological changes.
If personal income minus transfer payments is rising, real GDP is most likely
A) rising. B) falling. C) remaining stable. D) getting ready to fall.
Which of the following directs the buying and selling of U.S. government securities?
a. Board of Governors b. District Federal Reserve Banks c. Federal Open Market Committee d. Federal Advisory Council e. member banks
When unemployment is below the natural rate,
A. frictional unemployment increases. B. inflation slows. C. structural unemployment decreases. D. the inflation rate increases.