Horizontal contracts often result in
a. Higher prices
b. Lower prices
c. Unchanged prices
d. None of the above
a
You might also like to view...
A change in which of the following alters buying plans for cars but does NOT shift the demand curve for cars?
A) a 5 percent increase in people's income B) a 10 percent decrease in the price of car insurance C) a 20 percent increase in the price of a car D) an increased preference for walking rather than driving
The total output produced by a firm divided by the quantity of workers employed by the firm is the definition of
A) the division of labor. B) the average cost of production. C) the average product of labor. D) the marginal product of labor.
Trade without serious income distribution effects is most likely to happen
A) in sophisticated manufactures trade between rich countries. B) in simple manufactures trade between developing countries. C) in sophisticated manufactures trade between rich and poor countries. D) in agricultural trade between rich countries. E) in labor-intensive industries like clothing.
Which of the following is the best description of a quota?
An excise tax that is designed to place foreign producers at a competitive disadvantage in selling in domestic markets A specification of the maximum amount of a product that may be imported in any period of time Regulations and licensing related to the quality or safety of imported products Agreements adopted by exporting nations to limit exports to another country