Relational contracts contract for every possible contingency
Indicate whether the statement is true or false
False
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Fill in the blank: In the economic way of thinking, ________ are the key to help people coordinate production and consumption plans
A) abundant levels of natural resources B) well-meaning and inspired economic planners C) market-formed prices D) years of training in economic theory
Christina Romer's estimates of the business cycles prior to World War II showed that the business cycle
A) had greater fluctuations before World War II than previous estimates had shown. B) had smaller fluctuations before World War II than previously estimated. C) had smaller fluctuations before World War II than after World War II. D) had larger fluctuations after World War II than had been previously measured.
In ____ price discrimination, the monopolist charges each consumer the highest price that purchaser is willing to pay for each unit purchased (provided that this price exceeds the marginal cost of production)
a. first-degree b. second-degree c. third-degree d. a and b e. none of the above
Carson Manufacturing uses sharp but temporary price cuts to discourage new competition in the widget market. Which barrier to entry is used by Carson Manufacturing?
a. Predatory pricing b. Price skimming c. Economies of scale d. Deregulation