One indication that an industry might be oligopolistic is that prices change
a. infrequently.
b. frequently.
c. in rhythmic patterns.
d. on a regular, periodic basis.
a
Economics
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If a seller charges a buyer the exact price the buyer is willing to pay, then the buyer would
A) not buy the good. B) receive the maximum consumer surplus. C) receive no benefit from the good. D) receive no consumer surplus from that unit of the good. E) suffer a deadweight loss from buying the good.
Economics
Other things being equal, when the money price of a good increases, its relative price
A) stays the same. B) increases. C) decreases. D) falls to zero.
Economics