Reference no: EM13801658
1. Which of the following is the best example of a network good?
A) social media sites
B) laptop computers
C) automobiles
D) cable television
2. If most cartel members keep their agreement to cut back production
A) it’s not profitable in the short run for another member to increase production.
B) its profitable in the short run for another member to increase production.
C) cheating by another member won't be detected.
D) the losses associated with cheating are internalized by the cheater.
3. People sometimes point to similar gas prices at competing gas stations as evidence of collusion when they could just be selling at market price. If this is not good evidence of collusion, what is?
A) the profits of the companies are unusually high in the short run.
B) the station owners regularly have morning coffee together.
C) there is is some kind of punishment for cheating.
D) someone thinks they overheard their plans for collusion.
4. Which of the following statements is TRUE?
A) arbitrage makes it easier for firms to set different prices in different markets.
B) to maximize profits, monopolists will always set a higher price in markets with more inelastic demand curves.
C) monopolists typically prefer not to segment markets.
D) even if demand curves are identical, it is still typically profit maximizing for monopolists to charge different prices in different markets.
|
Determine an individuals wage
: Which of the following determine an individual's wage? If the price of output in an industry falls, firms in that industry will ______ labor.
|
|
Cartel members keep their agreement to cut back production
: If most cartel members keep their agreement to cut back production. People sometimes point to similar gas prices at competing gas stations as evidence of collusion when they could just be selling at market price. If this is not good evidence of collu..
|
|
Preference-based discrimination by employers easier
: Why is preference-based discrimination by employers easier to overcome than preference-based discrimination by employees? If arbitrage becomes extensive, a price-discriminating monopolist selling its patented drug in two markets will. Discrimination ..
|
|
Imagine that you could travel back in time to another era
: Which of the following is NOT a possible way for a price-fixing scheme on potatoes to fall apart? Which of the following determine an individual's wage? In 2011, Google introduced its social networking site, Google+. Even though Google+ is cleaner an..
|
|
Best example of a network good
: Which of the following is the best example of a network good? People sometimes point to similar gas prices at competing gas stations as evidence of collusion when they could just be selling at market price. If this is not good evidence of collusion, ..
|
|
Feature of markets for network goods
: The optimal price for a monopolist facing different demand curves in two separate markets will be. Which of the following statements is TRUE regarding network goods? Which of the following is NOT a feature of markets for network goods?
|
|
Describe the economic reasons why businesses use off shoring
: Explain four problems with the argument that trade protection is needed to protect American jobs. Describe the economic reasons why businesses use off shoring.
|
|
Identify the four major tools of monetary policy
: Identify the four major tools of monetary policy. How can monetary policy address the problem of inflation?
|
|
In an english open outcry auction
: In an English open outcry auction,
|