Vertical contracts between manufacturers and retailers often aim to
a. Prevent the retailers from defeating upstream price discrimination through arbitrage
b. Reward the retailer for undertaking the risk inherent in introducing a new product
c. Serve as a "signal" of the manufacturer's belief of the likely success of his product
d. All of the above
d
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The following government policies will help achieve faster economic growth EXCEPT
A) establishing and protecting property rights. B) improving the quality of education. C) discouraging saving and encouraging spending. D) encouraging research and development. E) increasing saving.
If an increase in x (the variable on the horizontal axis) from 6 to 8 units causes a decrease in y (the variable on the vertical axis) from 4 to 3 units, the slope equals
A) 2. B) -2. C) 1/2. D) -1/2.
If the credits for a principles of economics section is three units and an instructor teaches two sections with 100 students in each and tuition and fees at your school are $500 per credit hour, then the marginal revenue product for your school from hiring that instructor that semester is:
A. $500. B. $1500. C. $150,000. D. $300,000.
The cross price elasticity between A and B is 1.2. We can conclude that
A) goods A and B are substitutes. B) goods A and B are complements. C) goods A and B are unrelated. D) goods A and B are perfect substitutes.