Which type of model can account for all types of allocating and coordinating mechanisms, even those without explicit money prices?
A. Butterfly effect
B. Expression
C. Shadow price
D. Path-dependent
Answer: C
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In the loanable funds market, which of the following is an example of investment demand?
A) Mark buying rare gold coins B) Scott purchasing a rookie-year baseball card for last year's World Series MVP C) Mary buying stocks for her retirement portfolio D) Brian, owner of Bryan Games, purchasing computers to enhance the production of games E) George purchasing United States savings bonds for his son's college fund
Collusion:
A. rarely occurs in reality. B. never occurs in reality. C. has not occurred in the last hundred years or so, due to government policy outlawing it. D. is a common problem in reality.
Answer the following statement(s) true (T) or false (F)
1. Oligopolists use pricing policies that encourage newcomers to enter the market. 2. Vertical mergers are often subject to antitrust probes. 3. A price war that includes undercutting strategies will lower prices for consumers. 4. Oligopolists often experience large economic profits year after year. 5. Non-collusive oligopoly resembles a military campaign or poker game in some respects.
If price is initially above the equilibrium level,
A) the supply curve will shift rightward. B) the supply curve will shift leftward. C) excess supply exists. D) all firms can sell as much as they want.