At quantities less than Q1 in figure 12.4,:
A. competitors match price increases.
B. competitors do not match price increases.
C. demand is inelastic.
D. the firm does not have competitors.
Answer:B
At quantities less than Q1 in figure 12.4,:
A. competitors match price increases. B. competitors do not match price increases. C. demand is inelastic. D. the firm does not have competitors.