The motivations of buyers & sellers & their negotiation abilities have __________ in the price formation process

Fill in the blank(s) with the appropriate word(s).


Ans: no role

Economics

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When unions exist in markets

A) firms must have market power in their output markets. B) there no longer is a perfectly competitive labor supply. C) individual workers no longer make labor-leisure trade-off decisions. D) employers have market power in labor markets.

Economics

Consider a version of the ultimatum game in which player A makes an integer offer {1,2 …,9} to player B. If B accepts, he or she gets that amount of money and A gets to keep the remainder of $10 . If B rejects, both get nothing. Which of the following is an offer that arises in a subgame-perfect equilibrium assuming players only care about monetary payoffs?

a. 1. b. 2. c. 4. d. 5.

Economics

Resources are efficiently allocated when production occurs at that output level where price:

A. is greater than marginal revenue. B. equals marginal revenue. C. is equal to average variable cost. D. equals marginal cost.

Economics

An increase in the equilibrium quantity of good B can be caused by

A) an increase the price of inputs utilized in producing good B. B) an increase in the price of good B. C) a technological improvement in the process of producing good B. D) a reduction in the number of producers of good B.

Economics