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Author Question: Refer to Figure 2.1. At point C, demand is: A) completely inelastic. B) inelastic, but not ... (Read 114 times)

Lisaclaire

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on: Jul 1, 2018
Refer to Figure 2.1. At point C, demand is:
 
  A) completely inelastic.
  B) inelastic, but not completely inelastic.
  C) unit elastic.
  D) elastic, but not infinitely elastic.
  E) infinitely elastic.

Question 2

Collusion can earn higher prices and higher profits under the Bertrand model, but why is this an unlikely outcome in practice?
 
  A) Firms prefer to remain independent of other firms so that their pricing plans can be more flexible over time.
  B) The collusive firms have an incentive to gain market share at the expense of the other firms by cutting prices.
  C) The federal antitrust authorities have an easier time catching firms that collude on price rather than quantity.
  D) none of the above


Sweetkitty24130

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Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

B


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Lisaclaire

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Reply #2 on: Jul 1, 2018
Correct answers!


Sweetkitty24130

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Reply #3 on: Jul 1, 2018
Great! Please up vote :D


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