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Author Question: Joe's pizzeria raised its prices by 10% but all the other pizzerias in town kept their prices the ... (Read 88 times)

vicky

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on: May 25, 2020

Question 1

If firms follow the prices of a firm that is thought to be typical of the industry, this is called
◦ tacit collusion.
◦ strategic dominance.
◦ barometric price leadership.
◦ a cartel.

Question 2

Joe's pizzeria raised its prices by 10% but all the other pizzerias in town kept their prices the same. It thus decides to lower its prices by 10%, only to find that the other pizzerias lower theirs too. This shows that the demand for Joe's pizzas is
◦ has a horizontal section at the current price.
◦ is kinked.
◦ is highly elastic.
◦ equal to MR.
Essential Economics for Business ¦ Sloman, Jones ¦ 5th Edition
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Marked as best answer by vicky on May 25, 2020

recede

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Reply #1 on: May 25, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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vicky

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Reply 2 on: May 25, 2020
Thanks for the timely response, appreciate it

cassie_ragen

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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