The marginal revenue curve is ________ the demand curve, and that total revenue reaches a ________ where marginal revenue is zero

The long run average cost curve may initially slope downward due to

A) decreasing average fixed costs. B) increasing marginal returns. C) economies of scale. D) All of the above.

A successful tit-for-tat strategy leads to

a. explicit collusion b. a cartel c. a duopoly d. tacit collusion e. market disequilibrium