Price leadership is a(n) ______ that develops over time.
a. allocative efficiency
b. tying technique
c. horizontal merger
d. implied understanding
d. implied understanding
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Disposable personal income equals personal income
A) minus personal tax payments plus government transfer payments. B) plus government transfer payments. C) minus personal tax payments. D) minus government transfer payments plus personal tax payments.
In the schematic theory of economic policy, consumer optimism is considered
A) a policy instrument. B) an exogenous nonpolicy variable. C) a structural relation. D) a target variable. E) an irrelevant side effect.
If you had a two regressor regression model, then omitting one variable which is relevant
A) will have no effect on the coefficient of the included variable if the correlation between the excluded and the included variable is negative. B) will always bias the coefficient of the included variable upwards. C) can result in a negative value for the coefficient of the included variable, even though the coefficient will have a significant positive effect on Y if the omitted variable were included. D) makes the sum of the product between the included variable and the residuals different from 0.
Regarding U.S. antitrust activity, the rule of reason was expressed in the
a. Standard Oil case. b. Robinson-Patman Act. c. Clayton Act. d. ALCOA case.