Suppose an oligopoly has a dominant firm that sets the price for the entire industry. In this situation, the oligopoly has:
a. nonprice competition. b. a kinked demand curve.
c. price leadership. d. a cartel.
c
Economics
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Total planned real expenditures measured along the aggregate demand curve are made up of
A) consumption spending, factor payments, investment spending, and net export spending. B) consumption spending, income, government spending, and net export spending. C) consumption spending, saving, investment spending, and government spending. D) consumption spending, investment spending, government spending, and net export spending.
Economics
Refer to Figure 7-1. At the market equilibrium, the deadweight loss is equal to
A) $0. B) $250,000. C) $500,000. D) $1,000,000.
Economics