CHpt 7 HW.docx - Homework for Chapter 7(modified end-of-chapter questions plus additional questions(12 points possible 12 Briefly explain why firms

CHpt 7 HW.docx - Homework for Chapter 7(modified...

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Homework for Chapter 7 (modified end-of-chapter questions, plus additional questions) (12 points possible) 12. Briefly explain why firms operating with significant excess capacityare more likely to instigate price wars.(2 points) 14. It is often argued that price wars may be more likely to occur during low-demand periods than high-demand periods. a.What factors that might support this implication? (1 point)
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