Author Question: How can it be that people purchase more of a good while its price is rising? A) The supply curve ... (Read 63 times)

luminitza · **on:** Jun 29, 2018

How can it be that people purchase more of a good while its price is rising?

A) The supply curve must be shifting to the left.
B) The demand curve must be shifting to the right.
C) Supply and demand do not change.
D) It cannot happen, otherwise the law of demand is violated.

Question 2

A ________ is a plan by one firm to price a good at marginal cost forever if the other cheats on an agreement.

A) pure strategy
B) grim strategy
C) patent
D) collusion