A. Consumer products
B. Services
C. Industrial products
D. Specialty products
A. price leadership
B. price concentration
C. collusion
D. game theory,
A. maximized its total revenue
B. set price equal to its average cost
C. equated marginal revenue and marginal cost
D. maximized the difference between marginal revenue and marginal cost.
A. increase
B. decrease
C. not change
D. None of These
A. an increase in the number of firms in the market but no increase in the price of the good
B. an increase the price of the good and an increase in the number of firms in the market
C. an increase the price of the good but no increase in the number of firms in the market
D. no impact on either the price of the good or the number of firms in the market
A. Price elasticity of demand
B. Cross-price elasticity of demand
C. budget elasticity of demand
D. income elasticity of demand
A. private sector imports and exports
B. economic policy
C. the duration of compulsory education
D. labor supply changes