Which of the following is true of price leadership?
a. Price leadership requires that firms collude.
b. Price leadership will not exist when there is a dominant firm.
c. Price leadership may come into being as firms recognize the benefits of not engaging in competitive pricing.
d. Price leadership is most likely to arise when no firm has a history of making accurate evaluations of market conditions.
e. Price leadership is never used in the real world.
c
Economics
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A period in which the price level is rising is experiencing
a. inflation. b. reflation. c. deflation. d. deconstruction.
Economics
What is accounting profit?
A) gross revenue minus explicit costs B) gross revenue minus implicit costs C) gross revenue minus explicit and implicit costs D) the same as economic profit
Economics