Asset specificity means lower costs of redeployment and lower risks of opportunism associated with a contract
Indicate whether the statement is true or false
F
You might also like to view...
Based on the table above, if the wage rate is $500 and the price of output is $5, how many workers should the firm hire?
What will be an ideal response?
Which of the following does not cause competitive market failure?
A. Detrimental externalities B. Beneficial externalities C. Poorly defined property rights D. The cost disease
If velocity is constant, which of the following results flow from the quantity equation?
A) Nominal GDP could change only if there were a change in the money supply. B) In the short run, nominal GDP could change only if there were a change in the money supply and in the long run, nominal GDP could change only if there were a change in the money supply. C) In the short run, nominal GDP could change only if there were a change in the money supply but in the long run, nominal GDP is affected by changes in any component of GDP. D) In the short run, nominal GDP is affected by changes in any component of GDP but in the long run, nominal GDP could change only if there were a change in the money supply.
Most product markets are perfectly competitive.
Answer the following statement true (T) or false (F)