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There Are Four Ice Cream Shops on a Small Tourist

question 135

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There are four ice cream shops on a small tourist island.The following table shows the quantity of ice cream cones that each firm produces in a typical year and the price that each firm currently charges for each ice cream cone it sells.An economist might suspect ________ collusion occurring in this market where ________ is the price leader and all other firms set price to match the price leader. There are four ice cream shops on a small tourist island.The following table shows the quantity of ice cream cones that each firm produces in a typical year and the price that each firm currently charges for each ice cream cone it sells.An economist might suspect ________ collusion occurring in this market where ________ is the price leader and all other firms set price to match the price leader.   A)  explicit; Royal Scoop B)  explicit; Cream Emporium C)  illegal; Cream Emporium D)  tacit; Royal Scoop E)  tacit; Cream Emporium


Definitions:

Financial

Financial refers to matters related to finance, which encompasses the management, creation, and study of money, investments, and other financial instruments.

Communications

The act or process of exchanging information, ideas, or messages through spoken words, written texts, or other methods.

Transportation

The movement of goods or people from one location to another via vehicles, aircraft, ships, or other modes.

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