Which of the following statements about a price-matching strategy is incorrect?
A. It may be applied in situations besides Bertrand oligopoly.
B. It only guarantees to match prices that are advertised publicly.
C. It requires that the firms can monitor their rival's prices.
D. It reduces the incentive for a rival firm to initiate a price war.
Answer: C
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The working-age population is defined as the number of
A) people over the age of 16 who are not in jail, hospital, or other institution. B) people who have a job. C) people working full-time jobs who are over the age of 16. D) people looking for work.
A consumer who buys any amount of a good will realize a positive consumer’s surplus from that good.
Answer the following statement true (T) or false (F)
If a line passes through the points (20,5) and (10,10), then the slope of the line is 1/2
a. True b. False Indicate whether the statement is true or false
Smith and Jones comprise a two-person economy. Their hourly rates of production are shown in the accompanying table. Calculators Per HourComputers Per HourSmith10010Jones1206 If Smith and Jones devote all of their resources to producing computers, then the maximum number of computers they can produce in an hour is:
A. 10. B. 120. C. 6. D. 16.