Which oligopoly model was developed to explain price wars in an industry?
a. natural oligopolies
b. cartels
c. price leadership by a dominant firm
d. game theory
e. cost-plus theory
D
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Many art galleries keep 60% of the sale price of a painting. However, art galleries do not typically pay the artist while the painting hangs on the wall. This form of contingency contract may be efficient if
A) the artist is less risk averse than the gallery. B) the gallery is less risk averse than the artist. C) the artist is unable to diversify across galleries or paintings. D) the gallery is unable to diversify across artists of paintings.
Which definition of the money supply includes credit cards?
a. M1. b. M2. c. M3. d. None of these includes credit card balances.
Foreign portfolio investment is sometimes called hot money because:
A. it can be withdrawn from a country very quickly. B. it is very difficult to trace. C. it is often invested in the assets which yield the highest returns in the world. D. earnings often go untaxed by the home government.
White women earn an average of 25% less than white men. A labor economist who wants to investigate whether the differences in earnings indicate labor-market discrimination against women should consider whether white men and women have similar (i) years of work experience. (ii) educational attainments. (iii) occupations. (iv) child care responsibilities
a. (i) and (ii) only b. (iii) and (iv) only c. (ii) only d. (i), (ii), (iii), and (iv)