Two products have a negative cross elasticity of demand. If the price of one product decreases, the quantity demanded for the other product most likely:

With respect to game theory, two colluding firms form a Nash equilibrium when:

A shop sells 300 mobile phones per month at a price of £60 per unit. When the price drops to £45 per unit, sales increase to 500 units per month. The marginal revenue per unit is closest to:

For Veblen goods, the:

For a given consumer, two indifference curves do not intersect because of the:

All else being equal, a change in a good's own-price results in a:

The marginal rate of substitution of one good for another is best measured by moving along the graph of a(n):

All else being equal, pricing power for suppliers within an industry is most likely strongest when the industry has:

During an industry life cycle, the experience curve will most likely decline due to:

In the long run, if a perfectly competitive industry experiences constant costs as industry output increases, the slope of the industry's long-run supply curve is: