George Believes That the Inflation Rate Will Be Around 9

question 172

Multiple Choice

George believes that the inflation rate will be around 9 percent this year because it was around 9 percent in the previous year.George can be said to have ________.

• A) marginal expectations
• B) rational expectations
• C) adaptive expectations
• D) composite expectations

Comprehend the role of economies of scale as a source of oligopoly.

Identify the conditions under which collusion among firms might occur and its legal implications.

Explain the effects of cartel formation on output and profits in an oligopoly.

Understand the concepts of duopoly and how it fits within the broader category of oligopoly.