Identify the correct statement from the following
a. Good faith bargaining implies the seller will never decrease the price for a particular buyer.
b. Distrust is the norm when electricity producers negotiate a deal to exchange power by misrepresenting their costs.
c. Poker is the exception where norms do not come into play.
d. Good faith bargaining norms vary among different types of transactions.
D
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What is likely to happen in a used-car market if the buyers feel that the best they can do is to buy a lemon?
A) The sellers of gems reap high profits. B) Higher gains from trade are realized. C) The entire market shuts down. D) The sellers of lemons earn high profits.
Assume that you allocate your income to calzones and juice and that you have not yet spent your entire budget. If the marginal utility of a fourth calzone is 100 and the marginal utility of a third glass of juice is 50, you would
a. eat a fourth calzone because it has higher marginal utility b. drink a third glass of juice c. drink a third glass of juice if its price is lower than the price of calzones d. drink a third glass of juice if its price is less than half the price of the calzone e. drink a third glass of juice because it has lower marginal utility
Which of the following statements is true?
a. TC = TFC ? TVC. b. AVC = TC / Q. c. TFC = TC ? TVC. d. MC equals the change in ATC divided by the change in Q.
A major source of funding of R&D in large, established corporations is:
A. venture capital. B. dividends. C. mutual funds. D. retained earnings.