In a perfectly competitive industry, influence over price is exerted by

Assume that Greece has a comparative advantage in fish and Germany has a comparative advantage in cars. If these two countries specialize and trade according to their comparative advantage

A. all individuals in both countries will benefit. B. Greece will specialize in and export cars. C. Germany will produce more cars than in the absence of trade. D. Germany will produce more fish than in the absence of trade.

Price leadership is a form of explicit collusion where one firm in an oligopoly announces a price change and expects all other firms to follow suit

Indicate whether the statement is true or false