types of specialized investments
What will be an ideal response?
site specificity
physical-asset specificity
dedicated assets
human capital
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Which of the following is not a condition for perfect competition to exist:
a) There are a small number of firms in the industry. b) All firms are producing the same product. c) It is easy to either enter or exit the industry. d) All of the above apply.
In order to effectively price discriminate, one requirement is that a seller must be able to:
A. reduce costs when producing the discounted item. B. resell the product. C. avoid detection because price discrimination is illegal. D. identify customers with different reservation prices.
Adverse selection in employment is more likely when:
A. jobs require specific training. B. everyone is equally qualified for the job. C. people's abilities are easy to measure. D. people's abilities are difficult for potential employers to observe.
Another way of stating that investment is independent of real disposable income is to say that it is
A. complementary. B. autonomous. C. substitutable. D. inversely related.