If Healthy Bars agrees to sell its snack bars to a large grocery chain on the contractual condition that the grocery chain does not sell any of Healthy Bars' competitors' snack bars, this is an example of ________.
A) a horizontal contract
B) a tying arrangement
C) a requirements contract
D) an exclusive dealing contract
D) an exclusive dealing contract
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Claire and Dag are farmers who produce beef and corn. In a year, Claire can produce 16 tons of beef or 40 bushels of corn, while Dag can produce 5 tons of beef or 25 bushels of corn. The opportunity cost of producing a ton of beef is
A) 10 bushels of corn for Dag and 8 bushels of corn for Claire. B) 5 bushels of corn for Dag and 2.5 bushels of corn for Claire. C) 20 bushels of corn for Dag and 50 bushels of corn for Claire. D) 36.5 days for Dag and 45.6 days for Claire.
Refer to Table 9-11. If the actual terms of trade are 1 hat for 1.8 clocks and 150 hats are traded, how many hats will Denmark consume?
A) 150 B) 180 C) 270 D) 400
The short-run effect of an increase in the money supply is to
A) increase real GDP only. B) increase the price level only. C) increase both real GDP and the price level. D) increase nominal GDP but decrease the price level.
How does the United States compare to other nations on a per capita scale as far as government production and taxation?