Price leadership represents a situation where monopolistic firms:
A. Reduce their reliance on non price competition
B. Form a cartel
C. Face a kinked demand curve
D. Tacitly collude
D. Tacitly collude
Economics
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Janet Yellen, Chair of the Federal Reserve, must choose whether tomorrow she meets with the Secretary of the Treasury or with the Congress regarding the financial crisis. This choice reflects the
A) fact that Ms. Yellen faces scarcity. B) concept of entrepreneurship. C) fact that Ms. Yellen responds to incentives. D) use of capital.
Economics
If a country's currency has a market driven value that is higher than economic theory would suggest, the currency is considered to be
A) overvalued. B) undervalued. C) overestimated. D) in arbitrage.
Economics