_____ and _____ are major factors in de-integration, which act in opposite directions
a. Vertical restraints; opportunism
b. Uncertainty; volumetric interdependence
c. Asset specificity; uncertainty
d. Volumetric interdependence; vertical restraints
C
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When a rent ceiling is ________, consumer surplus and producer surplus shrink, a deadweight loss ________, and resources are lost in search activity and evading the rent ceiling law
A) inefficient; arises B) inefficient; disappears C) efficient; arises D) efficient; disappears E) nonexistent; arises
Sam buys gasoline and coffee each week. In order to draw his budget line between gasoline and coffee, Sam would have to know
A) only how much income he has available to spend on gasoline and coffee. B) only the prices of one gallon of gasoline and one pound of coffee. C) only how much gasoline he wants to buy and how much coffee he wants to drink. D) both how much income he has to spend and the prices of one gallon of gasoline and one pound of coffee.
In order to reduce or eliminate a chronic shortage in the market for a currency under a fixed exchange rate system, we must devalue the currency
Indicate whether the statement is true or false
The widespread availability of e-mail has likely increased the price elasticity of demand for the services of the U.S. Postal Service
a. True b. False Indicate whether the statement is true or false