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August 31, 2015

Homework Help: Managerial Economics

Posted by Linda on Monday, June 22, 2009 at 12:20am.

Which one is the best answer

1.Agreeing to be part of a price-fixing cartel is:
a.unlikely to yield maximum prices or profits for very long time
b.difficult to maintain, but almost guaranteed to ensure maximum profit
c.illegal in most countries
d.a and b
e.a and c

2.In a duopoly situation with two firms A and B, A's best-response curve:
a. gives A's profit-maximizing price given B's anticipated price.
b. gives A's minimax solution.
c. is derived based on the underlying interdependance of A and B.
d. both a and c.
e. all of the above.

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