Which of the following would not be a Pareto superior move?
a. A market exchange.
b. A group that unanimously decides to undertake an activity.
c. A group that decides by majority rule to undertake an activity.
d. A contingent contract for a group to undertake an activity at some time in the future.
c
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If a firm could practice perfect price discrimination, it would
A) allow resale of its product. B) use odd pricing. C) charge every buyer a different price. D) charge a price based on the quantity of a product bought.
We can expect deviations from PPP because of
A) quotas and tariffs. B) transportation costs. C) differentiated goods. D) All of the above.
Explain why X-inefficiency is likely to be more prevalent in an industry in which firms have market power
What will be an ideal response?
Which of the following is a period of decreasing output that is severe and long lasting?
a. business cycle b. expansion c. peak d. recession e. depression