(A) High

(B)Low

(C) Normal

(D)Constant

(A) Price leadership is a form of tacit collusion

(B)With dominant price leadership the leader in an industry is the biggest firm

(C) With barometric price leadership the leader may change even if the relative size of each firm stays the same

(D)Price leadership breaks down if input prices or demand conditions change

(A) Monopoly

(B)Perfect Competition

(C)Oligopoly

(D)Duopoly

(A) Different

(B)Uniform

(C)Very high

(D)Very low

(A) They include monopolistic competitors and monopolists

(B)They can always raise their prices and still retain some customers

(C)They may set different prices in the short run and in the long run

(D) We do not analyse them using diagrams with supply and demand curve

(A) Very short Period

(B)Short Period

(C)Long Period

(D)Very long Period

(A) Short Period

(B)Long Period

(C) Very long Period

(D)International

(A) If the industry has constant costs

(B) If the industry has decreasing costs

(C)If the industry has increasing costs

(D)Never

(A) Competition

(B)Time Period

(C)Legality

(D)Area

(A) Inelastic

(B)Elastic

(C)Perfectly Elastic

(D) Perfectly Inelastic