Search costs are the costs of finding, organizing, and motivating fellow victims so that bargaining can take place
Indicate whether the statement is true or false
FALSE
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A monopsonist is
a. a buyer who faces an upward-sloping supply curve. b. a buyer who faces a downward-sloping supply curve. c. a seller who faces an upward-sloping demand curve. d. a seller who faces a downward-sloping demand curve.
The prisoners' dilemma is a tool of social analysis, and it shows why
A) individuals sometimes behave in ways inconsistent with their own best interest. B) judges sometimes hand down sentences heavier or lighter than the law recommends. C) people who break the law and are caught are behaving irrationally. D) people who break the law and are caught are behaving rationally. E) societies sometimes produce situations no member of the society wants.
The features of the U-Form of firm organization are
a. workers have trouble developing a high degree of functional expertise b. employees can easily share information across positions within a division c. employee evaluation is hampered by managers having different skill sets than workers d. coordination across divisions is simple and does not take much management time
A unique characteristic of oligopolies is their
a. differentiated products b. profit-maximizing behavior c. advertising campaigns d. ability to overcome barriers to entry e. mutual interdependence