________ occurs when a large, powerful firm drives smaller firms out of the market by temporarily selling at an artificially low price.
A. A dominant strategy
B. Predatory pricing
C. A maximin strategy
D. A prisoners' dilemma
Answer: B
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Briefly discuss the main advantage of the bimetallic standard over the gold standard
What will be an ideal response?
During the process of a strike, both the employer and the union workers will do all of the following except
a. signaling what they will accept b. conceal agendas c. disregard the return to monopsony power d. reassess all relevant factors e. try to obtain the best wage agreement
At the equilibrium level of income it must be true that total
a. income equals total spending. b. product equals total output. c. output equals total inventory. d. income equals total saving.
A consequence of a negative externality is that social costs __________ private costs, and the efficient level of output __________
A) equal; does not require any type of government intervention B) are less than; requires the government to create a subsidy C) are greater than; requires the government to impose a tax D) are greater than; requires the government to create a subsidy E) are less than; requires the government to impose a tax