For consumers, chocolate chip cookies and doughnuts are substitutes. So, an increase in the price of chocolate chip cookies will lead to a rightward shift in the demand curve for doughnuts

The Chinese protected its automobile industry through restrictive tariffs and quotas. Which of the following BEST describes this practice?

a. antidumping duties b. infant industry protection c. voluntary export restraints d. price discrimination

A form of implicit collusion where one firm in an oligopoly announces a price change which is matched by other firms in the same industry is

A) "tit-for-tat" pricing. B) "follow the leader" pricing. C) retaliation pricing. D) price leadership.