What is tacit collusion?
What will be an ideal response?
Question 2
Consider the following types of demand curves:
a. a vertical demand curve
b. a horizontal demand curve
c. a linear downward-sloping demand curve
Which of the demand curves listed exhibits a price elasticity of demand coefficient that remains constant along the demand curve?
A) a only B) b only C) a and b only D) a, b, and c