In the Cournot model, if the products are differentiated,
A) this reduces the pressure of one firm's decisions on the other.
B) this increases the pressure of one firm's decisions on the other.
C) there is no difference between this model and one with homogeneous goods.
D) marginal costs are necessarily different.
A
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The application of current US antitrust law
A. extends its long reach to block mergers that reduce competition. B. reaches beyond the subjective judgments of antitrust regulators. C. includes a wide arrange of anticompetitive practices. D. includes a narrow range of anticompetitive practices.
At the utility maximizing level, the price of a shirt is $15 and the price of a trouser is $12 . At this level, the marginal utility derived from the shirt is 30 utils and the marginal utility derived from the trouser is _____
a. 24 utils b. 30 utils c. 25 utils d. 22 utils
Automobiles imported from Canada or Mexico must have 60% North American content to be eligible for tariff elimination under NAFTA rules. This is an example of:
a. a rules of origin requirement. b. an environmental standard. c. a health and safety requirement. d. a preferential trade agreement.
In 2008, foreclosures reached a record high. Which of the following is NOT a possible reason for foreclosures?
A) Many mortgages were initiated without a down payment. B) Many mortgages were initiated on secondary and investment homes. C) Some mortgages were adjustable rate mortgages which might have dramatically increased monthly payments for some. D) Property values were increasing too fast.