The figure above shows the situation facing Smart Digit, Inc, a firm in monopolistic competition that produces calculators. The firm's economic profit in the long run is

Economies cannot function without money

Indicate whether the statement is true or false

Which of the following is true? a. Price leadership is a form of explicit collusion

b. Price leadership is more likely when there are a substantial number of roughly equally sized firms in oligopoly. c. A price leader is most likely to be a dominant firm in an industry. d. None of the above is true.