Duopoly pricing, grim-trigger strategy, and tit-for-tat all promote cartel pricing by:
A. penalizing the underpricer.
B. making underpricing impossible.
C. increasing the chance of an underpricer being caught by the rest of the cartel.
D. making entry impossible.
Answer: A
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Typically the data lag is about
A) one month. B) about a month and a half. C) about three months. D) about six months.
In a situation of mutual interdependence and identical products, managers of oligopolistic firms ________ attempt to differentiate their product to earn ________ economic profit.
A) should; positive B) should not; positive C) should; negative D) should; zero
In 2008 if the poverty line had been set lower, the poverty rate would have been ________.
Fill in the blank(s) with the appropriate word(s).
Which statement is false?
A. The AFC curve is U-shaped. B. The AVC curve is U-shaped. C. The ATC curve is U-shaped. D. None of these statements are false.