While oligopolies are generally inefficient, limit pricing may keep prices closer to competitive levels.
Answer the following statement true (T) or false (F)
True
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Use the following graphs to answer the next question.
In the diagrams, AD1 and AS1 are the "before" curves. Assuming Q1 is full-employment output, a recession is depicted by ________.
A. panel (A) only B. panel (B) only C. panel (C) only D. panels (A) and (B)
Assume the graph shown represents Kerri's budget constraint. If Kerri's income to spend on these two items increased, which of the following would be true?
A. Kerri's budget constraint would shift out, maintaining the same slope.
B. Kerri's budget constraint would shift out, and get steeper.
C. Kerri's budget constraint would shift in, maintaining the same slope.
D. Kerri's budget constraint would shift out, and get flatter.
A risk-averse investor will:
A. always prefer an investment with a certain return to one with the same expected return but that has any amount of uncertainty. B. always require a certain return. C. always focus exclusively on the expected return. D. never prefer an investment with a lower expected return.
A carefully written partnership agreement can maximize the advantages of the partnership structure and minimize the potential disadvantages. Which of the following points will help in writing an effective partnership? agreement?
A. A partnership agreement should strictly follow only the state? laws, as they will drive the business. B. Incorporate a broad and general understanding of what the business association will be to allow for flexibility. C. A great personal partnership cannot get in the way of a successful business partnership. D. Address the hopes of each? owner, decision-making? strategies, and succession and exit strategies. E. ?Dispute-resolution procedures should be? avoided, as they apply to corporations.