If collusion was not illegal, than it is more optimal
a. For megastore to advertise and for superstore to advertise
b. For megastore to advertise and for superstore not to advertise
c. For megastore not to advertise and for superstore to advertise
d. For megastore not to advertise and for superstore not to advertise
d
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What effect does the entry of new firms in a monopolistically competitive market have on the economic profits of existing firms in the market? How might existing firms attempt to counteract this effect?
What will be an ideal response?
If the U.S. (a large country) imposes a tariff on its imported good, this will tend to
A) improve the terms of trade of the United States. B) have no effect on terms of trade. C) improve the terms of trade of all countries. D) cause a deterioration of U.S. terms of trade. E) raise the world price of the good imported by the United States.