Define collusion
Collusion is an agreement among firms in a market about quantities to produce or prices to charge.
Economics
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An increase in the Japanese interest rate will ________ the supply of dollars and lead the dollar to ________
A) increase; appreciate B) increase; depreciate C) decrease; appreciate D) decrease; depreciate
Economics
If the local pizzeria raises the price of a medium pizza from $6 to $10 and quantity demanded falls from 700 pizzas a night to 100 pizzas a night, the arc price elasticity of demand for pizzas is:
A) 0.67. B) 1.5. C) 2.0. D) 3.0.
Economics