In managerial economics, agency costs refer to
a. booking travel arrangements
b. model and actor representation
c. imperfections in dealing with those hired
d. foreign espionage
c
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Refer to Figure 4.7. The game described in the payoff graph has the characteristics of a(n) ________ game
A) assurance B) prisoner's dilemma C) chicken D) pure coordination
The "rule of reason" was formulated in the
A. Standard Oil case of 1911. B. U.S. Steel case of 1920. C. ALCOA case of 1945. D. XEROX case of 1973
Suppose the domestic supply (QSU.S) and demand (QDU.S) for skateboards in the United States is represented by the following set of equations:QS = -60 + 3PQD = 390 - 2PIn the absence of international trade in skateboards, what will be the equilibrium price of skateboards in the United States?
A. $66 B. $150 C. $45 D. $90
To the degree that the Plumbers and Steamfitters union ensures that through its rigorous training requirements for prospective plumbers are qualified to do the work, it is
A. shifting the supply of plumbers to the right. B. shifting the demand for plumbers to the right. C. kinking the supply of plumbers to make it vertical at the level of the constraint. D. shifting the supply of plumbers to the left.