If consumers have limited information about price and search costs exist, then
A) the result must be that all firms will charge the same price.
B) the monopoly price must result.
C) the full-information, competitive price is not an equilibrium.
D) the difference in prices between firms will be greater than the search cost.
C
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Firms are much more likely to provide non-excludable public goods than excludable public goods. ?
Answer the following statement true (T) or false (F)
Assume that price exceeds average variable cost over the relevant range of demand
If a monopolistically competitive firm is producing at an output where marginal revenue is $111.11 and marginal cost is $118, then to maximize profits the firm should increase its output.
All of the following have contributed to increased use of ATMs EXCEPT:
A) some banks charging customers for services performed by tellers than can be done by ATMs B) some banks closing branches in low-income neighborhoods C) ease by which customers can make use of ATMs to make deposits and withdrawals D) increased use of debit cards for transactions
The rule of rational choice is that in trying to make themselves better off, people alter their behavior if the expected marginal benefits to them from doing so ____ the expected marginal costs they will bear. a. exceed
b. equal. c. are less than. d. Either a. or b.