Which of the following is a reason why firms can be more efficient than markets as coordinators of economic activity?
A) economies of scale and scope
B) higher transactions charges
C) elimination of the principal-agent problem
D) all of the above
A
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A depreciating domestic currency is often perceived to be a sign of a(n):
A) economic expansion. B) strong government. C) weak government. D) global slowdown.
So long as production in the oligopoly still occurs, recurring fixed costs have no impact on output under Cournot competition but do have an impact under Bertrand competition.
Answer the following statement true (T) or false (F)
Many online auctions end when a certain amount of time has gone by without a bid. This causes bidders to place several last-minute bids. This practice is known as ________
A) sniping B) jump bidding C) nonforcing D) signing off
The agreement that established Spain and Portugal's rights to explore various parts of the world was called:
a. the Treaty of Spain. b. the Treaty of Paris. c. the Treaty of Tordezillas. d. the Spanish-Portuguese Covenant. e. the London Accord.