Refer to Figure 5-1. At the efficient equilibrium,
A) economic surplus is minimized. B) economic surplus is maximized.
C) economic surplus is zero. D) economic surplus is negative.
B
Economics
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If a particular bank regularly announces changes in its interest rate schedules before its competitors, who then set rates very close to those announced by that bank, this could be described as:
A. Markup pricing B. Predatory pricing C. Price leadership D. Explicit price collusion
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