In barometric price leadership, one firm announces a change in price
a. and the other firms follow
b. but the other firms refuse to follow
c. that it hopes will be accepted by others
d. which is merely a test of the market
e. none of the above.
c
Economics
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Refer to Figure 4-5. Suppose that instead of a price ceiling, the government imposed a price floor of R1. What is the area representing consumer surplus after the imposition of the price floor?
A) C + E B) B + C + D + E C) A+ B + D D) A
Economics
Refer to above figure. The lowest specific tariff which would be considered prohibitive is ________
Fill in the blank(s) with correct word
Economics