Price leadership works only if there is a single, dominant firm in the oligopoly.
Answer the following statement true (T) or false (F)
False
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Some software firms require that applicants have passed certain standardized certification tests before being hired. This policy is necessary when
A) cheap talk does not provide a credible signal. B) cheap talk does provide a credible signal. C) the interests of the firm and the applicant converge. D) the applicant is honest about her abilities.
Workers in which of the following countries are often paid less than the U.S. minimum wage?
a. Italy b. Canada c. Poland d. Japan
Suppose that Brazil and Peru exchange coffee and leather. Brazil can produce both coffee and leather more efficiently than Peru, but Brazil can produce coffee more efficiently than leather. Comparative advantage states that:
A) Brazil should produce both coffee and leather and not trade. B) Brazil should produce coffee, Peru should produce leather, and both countries should trade. C) Brazil should produce leather, Peru should produce coffee, and both countries should trade. D) Peru should produce both coffee and leather and not trade.
Refer to Figure 21.5. Diseconomies of scale begin to occur
A. After the third factory. B. After the first factory. C. After the fourth factory. D. At the minimum points on all five ATC curves.