Public investment in crop breeding has tended to emphasize longer term research while investment by the private sector has emphasized:
a. Investment in animal agriculture
b. Investment to encourage small scale production
c. Investment in cultivar development with short term payoffs
d. All of the above
c. Investment in cultivar development with short term payoffs
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If a duopolists' collusive price-fixing game can be played repeatedly,
A) one possible equilibrium is that both firms cheat. B) players can signal their willingness to cooperate. C) players can punish cheaters in the following game. D) All of the above answers are correct.
An example of an ongoing expense for a toy company would be buying:
A. a delivery truck, and would be included in total cost. B. a new factory, and would be excluded from total cost. C. advertising for their products, and would be included in total cost. D. None of these is true.
The use of "introductory prices" suggests
A) firms engaged in multi-period decision making. B) firms engaged in price gouging. C) firms engaged in anti-competitive behavior. D) firms engaged in single-period decision making.
Constant returns to scale exist over the range of output for which the long-run average cost is:
a. neither rising or falling. b. falling. c. rising. d. none of these.