When firms discuss pricing strategies with each other:
A. it is a violation of antitrust laws.
B. it is not a violation of antitrust laws because laws cannot restrict free speech.
C. it is a violation of antitrust laws only if the discussion includes punishment strategies.
D. it is a violation of antitrust laws only if some firms in the industry are excluded from the discussion.
Answer: A
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The ability to engage in product differentiation is one of the factors a manager or owner of a firm can control in order to create value for consumers
Indicate whether the statement is true or false
If the demand for online banking increases, we would expect to see the
A) supply of workers that produce online-banking services to increase. B) supply of workers that produce online-banking services to decrease. C) demand for workers that produce online-banking services to decrease. D) demand for workers that produce online-banking services to increase.
Under which of the following conditions would a cost center be the best option?
a. Always, since they are largely run on their own b. Never, since they require a high degree of the firm's attention c. As long as the cost of monitoring is low d. As long as the benefits from monitoring are low
A monopolistic competitor's demand curve is
a. perfectly elastic b. less elastic than a monopolist's or oligopolist's but more elastic than a perfect competitor's c. as elastic as an oligopolist's d. more elastic than a monopolist's or oligopolist's but less elastic than a perfect competitor's e. perfectly inelastic