Prices of PlayStation 4 game systems are similar at almost every large retailer and little price competition occurs among these retailers. An explanation for this is
A) retailers are in a prisoner's dilemma which causes them to all charge the same price for PlayStation 4 game systems.
B) pricing PlayStation 4 game systems is a repeated game. Over a long period of time a cooperative equilibrium has been reached where retailers charge high prices for these systems.
C) retailers are all price takers.
D) retailers have lobbied state governments to allow them to collude legally to set the prices of certain products.
Question 2
A firm's expansion path
A) shows the targeted growth rate in sales over the long run.
B) is the same thing as its long-run average cost curve.
C) is a curve that shows a firm's cost-minimizing combination of inputs for every level of output, holding input prices constant.
D) is a curve that shows expected profits at various price levels.
The large orb web of Araneus diadematus (European garden spider).
Glioma. (a) Illustration of a large glioma (colored area) within the left cerebral hemisphere in a s
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