The ________ the total cost of litigation, the ________ likely the parties will ________.
A) larger; less; settle
B) smaller; more; settle
C) larger; more; litigate
D) larger; more; settle
D) larger; more; settle
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In March 2018, the United States filed a formal complaint with the World Trade Organization (WTO) alleging that China
A. violated restrictions on Chinese direct investment in the United States. B. engaged in unfair policies and practices regarding intellectual property rights. C. failed to comply with U.S. import licensing requirements. D. was dumping goods on U.S. markets.
Which of the following is NOT a feature of monopolistic competition?
A. inability of firms to enter or exit the market B. sales promotion and advertising C. significant numbers of sellers in a highly competitive market D. differentiated products
Let the production function be q = ALaKb. The function exhibits increasing returns to scale if
A) a + b = 1. B) a + b > 1. C) a + b < 1. D) Cannot be determined with the information given.
In the market for insurance
A) buyers often have more information than sellers. B) sellers often have better information than buyers. C) sellers are protected from lawsuits brought by buyers. D) demand is perfectly inelastic because, by law, home owners and automobile drivers must have insurance.