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∙ 11y ago
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Covert and overt collusion in economics?
Why would you not want any covert collusion in your business
Why would group of companies be willing to cooperate in price fixing?
To maximise profits.
Why would a group of companies be willing to cooperate in price-fixing?
So that they could all make more money.
What would happen if suppliers charge less than the equilibrium price for your good or service?
producers would supply less than consumers would be willing to consume at that particular price. There would be SHORTAGE
What describes a situation in which the price of a commodity would fall?
A new technology allows producers to increase supply very quickly.
Covert and overt collusion in economics?
Why would you not want any covert collusion in your business
Why would group of companies be willing to cooperate in price fixing?
To maximise profits.
What is the exact price for Pro Tools version 9?
There is no exact price. Each retailer has the choice to set the price at whatever they want. For Avid to force one price, they would be charged with price fixing, which is illegal.
Why would a group of companies be willing to cooperate in price-fixing?
So that they could all make more money.
What would happen if suppliers charge less than the equilibrium price for your good or service?
producers would supply less than consumers would be willing to consume at that particular price. There would be SHORTAGE
What describes a situation which the price of a good would rise?
A new technology allows producers to increase supply very quickly
What describes a situation in which the price of a commodity would fall?
A new technology allows producers to increase supply very quickly.
How would the word fixing be used in a sentence?
fixing would be used as a verb. It would say something like: I am fixing the computer right now.Fixing:She was fixing to buy a new car, but was stopped by her husband.The teacher found that fixing each students mistakes can be a tedious job.The kids discovered some unique rocks while fixing their bikes.We are fixing to go to the mall. Would you like to go with us?
Why do you need producers?
If there were no producers, there would be no consumers, and life would not exist.
Why would a group of companies be willing to cooperate in the price-fixing?
So that they could all make more money.
What describes a situation that would tend to raise the price of goods?
Scarce natural resources make it more difficult for producers to keep up with demand.
What will happen to consumer and producer surplus when a price floor is eliminated?
If the price floor was set below the equilibrium price, then the removal of this price floor would have no effect on producer and consumer surplus. If the price floor was set above the equilibrium price for that product, then prices with shift down again to the equilibrium price. Consumers would want to buy more, and producers would want to sell more, until they reach the equilibrium price and quantity. In other words all surpluses of deficits would eventually disappear.
