Nike faces a more__________ demand for its products than a shoe polish producer.
a. inelastic
b. elastic
c. perfectly elastic
d. perfectly inelastic
Question 2
A bid rotation scheme in a cartel is where
a. The cartel members do not participate in auctions
b. The cartel members never bid against each other
c. The cartel members take turns winning the bids and do not bid against the member whose turn it is to win
d. All of the above