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Barametric price leadership exsists when
a. one firm in the industry initiates a price change and the others may or may not follow
b. one firm imposes its best practice on the rest of the industry
c. when all firms agree to change prices simultaneously
d. when one forms a price umbrella for all others
Why might a money lender who relies on threat of cutting off future credit to enforce repayment of current loans be less willing to make a loan to an individual that plans to invest money productively.
A monopolistically competitive market consists of __________ seller(s), an oligopoly consists of __________ seller(s), and a monopoly consists of one seller. Monopolists: A monopoly: Barriers to entry:
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The banking system is a fractional reserve banking system with a desired reserve deposit ratio. Banking system is a fractional reserve banking system.
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A Nash equilibrium is said to occur when,
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