When a falloff in usage of a product by some consumers causes others to stop purchasing the item there is
A) price leadership.
B) negative-sum game.
C) positive market feedback.
D) negative market feedback.
D
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If a principal and agent enter into a fixed-fee contract where the agent is paid a fixed wage
A) the principal bears all the risk. B) the agent bears all the risk. C) the principal and agent share the risk. D) Unable to determine with the information given.
The primary trading partner of the United States is
a. Japan b. Mexico c. Canada d. Britain e. Korea
The efficient market hypothesis states that:
A. markets currently contain an efficient amount of information for them to clear. B. markets currently contain all available information and correctly value instruments. C. when buyers and sellers act in their own best interest markets will be efficient. D. in order for markets to be efficient they need to be adequately regulated.
Price leadership represents a situation where monopolistic firms:
A. Reduce their reliance on non price competition B. Form a cartel C. Face a kinked demand curve D. Tacitly collude