Which of the following is a factor(s) affecting collusion in an infinitely repeated pricing game?
A. History
B. Number of firms
C. Firm size
D. All of the statements associated with this question are correct.
Answer: D
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In many corporations, the managers of the corporation run the corporation, although the shareholders own the corporation. In this situation,
A) there is separation of ownership from control. B) there are no outside directors on the board of directors. C) there is no corporate governance. D) there are no inside directors on the board of directors.
The former Soviet Union was known for black markets. An explanation for the existence of these illegal markets is that:
a. goods were not subject to price controls. b. the government imposed a price ceiling below the equilibrium price. c. the government imposed a price ceiling above the equilibrium price. d. all of these.
In modern culture, which of the following has probably become the most precious resource?
a. water b. time c. oil d. mathematics
In which market structures do firms earn long-term profits of zero?
A) perfect competition and monopolistic competition B) monopolistic competition and oligopoly C) oligopoly and monopoly D) perfect competition and monopoly