If an oligopolist reduces the price of its product:
a. It may get some customers to switch from rival firms if they don't respond by reducing their prices
b. It may not get some customers to switch from rival firms if they respond by reducing their prices.
c. It does not know whether its profits will rise or fall without knowing how rivals will change their prices in response.
d. All of the above are true.
d
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Suppose a tax is imposed on a good. This will
A) increase the price paid by the buyer and decrease the price received by the seller. B) increase the price paid by the buyer but leave the price received by the seller unchanged. C) decrease the price received by the seller but leave the price received by the buyer unchanged. D) increase the price received by the seller and decrease the price paid by the buyer.
Contrary to Populist views, the lending practices during industrialization provided ample opportunities for firms and agriculturalists to invest, grow and develop
Indicate whether the statement is true or false