In Competitive Price-Taker Markets, If One Firm Raises Its Price

question 155

Multiple Choice

In competitive price-taker markets, if one firm raises its price,

• A) others will follow
• B) that firm will increase its revenues
• C) that firm will lose revenues because other firms will not follow
• D) all consumers will be adversely affected
• E) the market demand curve will shift

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Definitions:

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A psychological perspective that emphasizes the importance of unconscious processes and childhood experiences in influencing behavior and mental states.

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Humor that relies on stereotypes or discriminates against individuals based on their gender, often perpetuating harmful biases.