Refer to the profits-payoff table for a duopoly. If initially firms X and Y are charging $5 and $4 respectively:
A. the two firms will be maximizing joint profits.
B. Y will find it advantageous to raise its price if it was certain X would not alter its price.
C. X will find it advantageous to raise its price if it was certain Y would not alter its price.
D. both firms would find it advantageous to collude to raise their prices by $1 each.
D. both firms would find it advantageous to collude to raise their prices by $1 each.
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The formula is the
A) actual change in the money supply. B) discount rate. C) potential money multiplier. D) federal funds rate.
According to this Application, tariffs in the United States are very high on textiles, apparel items, and footwear, and within these categories tariffs are highest on the cheapest products
These tariffs disproportionately impact lower-income households because A) only lower-income consumers buy cheap, imported products. B) these cheaper products tend to be purchased by lower-income consumers. C) higher-income consumers can deduct the tariff from their income taxes. D) higher-income consumers tend to refuse to purchase products with tariffs.