Under oligopoly, collusive practices to fix prices are more likely to take place if
a. market demand is highly elastic.
b. market demand is highly inelastic.
c. there are a large number of firms in the industry.
d. both market demand is highly inelastic and there are a large number of firms in the industry.
b. market demand is highly inelastic.
Economics
You might also like to view...
Of the owners of the following firms, which does not have unlimited liability for the business' debts?
A) Roy Ray's Grocery Store, Roy Ray, proprietor B) the partnership of Reese and Jones, Attorneys-at-Law C) the Huber Corporation D) Wren's Feed and Seed Store, a proprietorship
Economics
If the PPF for guns and butter is bowed outward from the origin, this indicates constant opportunity cost between the two goods
a. True b. False Indicate whether the statement is true or false
Economics