Tacit collusion among firms involves explicit agreements on pricing and output levels

Bargain airline fares in which airlines charge varying rates to passengers for the same flight and service is an example of

a. market penetration b. transaction pricing. c. collusion. d. price discrimination.

When deciding whether or not to provide a public good, a government's policy should be to provide the good where society's marginal benefit is smaller than the marginal cost of the good

a. True b. False Indicate whether the statement is true or false