In a market operated by a cartel, if price is $30 which of the following must be true?
Answer: Marginal Revenue and marginal cost must be under $30
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Liabilities are:
A. saving minus investment. B. anything of value one owns. C. the debts one owes. D. current income minus spending on current needs.
Predatory pricing, as defined in the text, is
A) common and profitable but illegal. B) common, profitable, and legal. C) common but both unprofitable and illegal. D) common and legal but unprofitable. E) rarely observed though often alleged.
Why are estimated models of demand and consumer behavior useful to managers?
What will be an ideal response?
If a firm uses introductory pricing, it is likely ________ short run profit and ________ long run profit
A) minimizing; maximizing B) maximizing; maximizing C) maximizing; reducing D) reducing; maximizing