The major distinguishing characteristic of oligopoly is that
A. firms are interdependent.
B. firms produce differentiated products.
C. firms can influence the price of their product.
D. entry into the industry easy.
Answer: A
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Due to moral hazard, the goal of providing security is likely to conflict with the goal of efficiency.
A. True B. False C. Uncertain
Which of the following is not considered a barrier to entry into a monopoly market?
A. an new product-type is offered. B. ownership of a key resource. C. government intervention. D. having a natural monopoly.
Jay Bhattacharya and M. Kate Bundorf of Stanford University have found evidence that people who are obese and work for firms that have employer-provided health insurance receive lower wages than people working at those firms who are not obese. At firms that do not provide health insurance, obese workers do not receive lower wages than workers who are not obese. Firms that provide workers with health insurance may pay a lower wage to obese workers than to workers who are not obese because the latter tend to be healthier and consequently
A) more productive at work B) less costly to insure and therefore employ due to their lower claim submission rate C) experience lower rates of absenteeism and early retirement D) all of the above E) A & B only
Which of the following is NOT a way in which a safeguard policy is better than antidumping policies?
A. There is pressure for import-competing firms to adjust their production to be more competitive with foreign exporters. B. Firms and governments do not need to show that foreign exporters have done anything unfair. C. The interests of consumers can be disregarded since they do not play a role in determining whether to invoke a safeguard policy. D. The protection provided to the import-competing sector is explicitly temporary.