Which of the following factors helps explain limitations of concentration measures?
A) data collection challenges
B) failure of the market and industry to correspond
C) poor public information about firms
D) lack of staff to perform professional market research
B
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The position of a cartel will become weaker if there is ________ excess-capacity among the firms belonging to the cartel
A) minimum B) no C) zero D) high
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What will be an ideal response?
Figure 4-13
Refer to . The supply curve S and the demand curve D1 indicate initial conditions in the market for flu shots. A new government program is implemented that grants buyers a $25 subsidy when they buy a flu shot, shifting the demand curve from D1 to D2. Which of the following is true for this subsidy given the information provided in the figure?
a.
The original price of a flu shot was $75, and after the subsidy, it rises to $90.
b.
$65 represents the net price a buyer must pay for a flu shot after taking into account the subsidy payment.
c.
Buyers of flu shots will receive an actual benefit of $10 from the subsidy, while sellers of flu shots will receive an actual benefit of $15 from the subsidy.
d.
All of the above are true.
When the owner runs the business:
A. there is not a principal-agent problem. B. he does not receive the full benefit nor the full cost of any decision. C. he has only limited liability for the actions of the business. D. he does not bear the full cost of a bad decision.