Oligopolists merge to ________
A) increase market supply
B) increase market demand
C) increase market power
D) reduce prices
C
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What happens in the foreign exchange market if the U.S. interest rate increases? What is the effect on the exchange rate?
What will be an ideal response?
The lemons problem occurs mainly because of
A) asymmetric information. B) a market failure. C) negative externality. D) a monopoly.
Aluminum cannot be produced without bauxite. Hence, the price elasticity of demand for bauxite by aluminum manufacturers will be
A) perfectly elastic. B) elastic. C) inelastic. D) unitary elastic.
Your roommate has the right to play her harmonica during the day. But you find the best time to study is during the day, and the harmonica playing makes it hard for you to concentrate. You tell your roommate that you will do her laundry every week if she does not play the harmonica during the day and she agrees to this. This is an example of
A. the Coase theorem. B. liability rules. C. the drop-in-the-bucket problem. D. an injunction.