Question 19
In the electric power industry, residential customers have
relatively ____ demand for electricity compared with large
industrial users. But contrary to price discrimination, large
industrial users generally are charged ____ rates.
Question 20
Barometric price leadership exists when
Question 21
A cartel is a situation where firms in the industry
Question 22
Even ideal cartels tend to be unstable because
Question 23
In the Cournot duopoly model, each of the two firms, in
determining its profit-maximizing price-output level, assumes
that the other firm's ____ will not change.
Question 24
Some industries that have rigid prices. In those industries, we
tend to
Question 25