The government allowed the merger between Interstate Bakeries and Continental Bakery.
Answer the following statement true (T) or false (F)
True
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Does economic growth overcome scarcity?
What will be an ideal response?
Some companies subject their applicants to extensive tests. Why?
A) to reduce the informational asymmetry between the firm and the applicant B) to screen the applicant to avoid the problem of adverse selection C) to gather more information about the applicant D) All of the above.
Suppose all firms have constant marginal costs that are the same for each firm in the short run. In this case, the market level supply curve is ________ and producer surplus equals ________:
A) perfectly inelastic, fixed costs B) perfectly inelastic, zero C) perfectly elastic, fixed costs D) perfectly elastic, zero
Commitment devices:
A. need strong commitments that are hard to get out of in order to be successful. B. are never strong commitments that are hard to get out of. C. can be successful whether they have strong or weak commitments. D. are only successful if they are weak commitments that are easy to change.