A kinked demand curve indicates that rival oligopolists match all
A. Price increases.
B. Increased advertising.
C. Advertising reductions.
D. Price reductions.
Answer: D
You might also like to view...
An economy with better technology is likely to:
A) achieve higher productivity. B) have lower levels of human capital. C) have less capital stock. D) use more labor than capital.
If an airport decides to expand by building an additional passenger terminal, and in doing so it lowers its average cost per airplane landing, then the expansion would provide ________ to the airlines
A) higher marginal costs but lower total costs B) higher average costs but lower total costs C) economies of scale D) diseconomies of scale
Abandonment of continual active discretionary counter-cyclical policies is advocated by
A) Keynesians. B) Monetarists. C) both Keynesians and Monetarists. D) neither Keynesians nor Monetarists.
What best describes the changes in steel production from 1860-1910?
a. The open-hearth process quickly became the dominant production process after it was invented. b. Technological change in steel production changed relatively slowly. c. No technological changes occurred in the steel industry. d. The production of steel stayed constant through this period, but it became much more efficient.