In imperfectly competitive markets,"administered" prices usually change ________ than prices in perfectly competitive markets,because ________.
A) more often; they are more flexible
B) more often; perfectly competitive firms are price takers
C) more often; price becomes a strategic choice
D) less often; changing prices is costly
E) less often; changing prices is costless
Correct Answer:
Verified
Q1: In an imperfectly competitive market,changes in market
Q2: Suppose the market for gasoline retailing (gas
Q3: By calculating a concentration ratio,economists measure the
A)degree
Q5: A Canadian industry composed of many small
Q6: Which of the following characteristics is NOT
Q7: An imperfectly competitive industry is often allocatively
Q8: In which market structure are price fluctuations
Q9: A characteristic common to most imperfectly competitive
Q10: A monopolistically competitive firm and a monopoly
Q11: In Canada,concentration ratios are the highest in
A)tobacco
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents