Concrete likely does not follow the law of one price due to:
A. lack of information regarding prices.
B. high transportation costs.
C. technical differences.
D. tariffs.
Answer: B
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The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 created an Office of Credit Ratings at the SEC with its own staff and the authority to fine credit-rating agencies and to deregister an agency if it produces bad ratings
This is an example of which remedy of conflicts of interest? A) regulate for transparency B) supervisory oversight C) leave it to the market D) socialization of information production
The principal-agent problem occurs:
A. when the principal has less information than the agent. B. when the principal has more information than the agent. C. when the agent has less information than the principal. D. not observed in reality.
Ceteris paribus, if the market demand for a product increases, then equilibrium quantity will (be) ____ and equilibrium price will (be) ____
a. increase; indeterminate b. decrease; decrease c. indeterminate; decrease d. increase; increase
The minimum price the firm would accept in the long run would be
A. $25.
B. $50.
C. $70.
D. $80.