General Electric and Westinghouse were convicted of
A. Price-fixing.
B. Price leadership.
C. Marginal cost pricing.
D. Allocation of market shares.
Answer: A
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Points where the aggregate expenditure (AE) curve lie above the 45° line are points where aggregate planned expenditure is
A) greater than real GDP. B) equal to real GDP. C) less than real GDP. D) the inverse of real GDP. E) not related to real GDP.
Describe the characteristics of an efficient contract between a principal and an agent
What will be an ideal response?
Refer to the above table. Suppose the price of X increases from $10 to $12. What is the cross price elasticity of demand between X and Y?
A) -1.833 B) +0.545 C) +0.579 D) +1.833
If a $1 increase in price leads to a 3-unit decrease in quantity demanded, then demand must be elastic
Indicate whether the statement is true or false