If two identifiable markets differ with respect to their price elasticity of demand and resale is impossible, a firm with market power will
A) set a higher price in the market that is more price elastic.
B) set a lower price in the market that is more price elastic.
C) set price so as to equate the elasticity of demand across markets.
D) set price equal to marginal cost in both markets.
B
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Refer to the above figure. As more and more firms are able to and actually do enter the industry, the demand curve of each firm and its marginal revenue curve
A) will shift inward until the demand curve is tangent to the average total cost curve. B) will become vertical. C) will become upward sloping. D) None of the above will occur.
A shark repellent activity is designed to __________ in order to secure the position of the ___________
a. thwart competitors; shareholders b. protect managers; suitors c. lure white knights; managers d. thwart takeovers; managers e. thwart takeovers; shareholders