Economists claim that a resale price maintenance agreement is not anti-competitive because
a. suppliers are never able to exercise noncompetitive market power.
b. if a supplier has market power, it will be likely to exert that power through wholesale price rather than retail price.
c. retail markets are inherently noncompetitive.
d. retail cartel agreements cannot increase retail profits.
b
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Which of the following would be part of the nation's current account?
A) An old house purchased by an American in Italy B) The purchase of a U.S. Treasury bond by a foreigner C) The interest an American earns on a British bond D) A factory built by the Japanese in the United States
Which of the following are barriers to entry?
A) economies of scale B) patents and copyrights C) control of resources D) all of the above
Other things equal, a price ceiling will increase consumer surplus by allowing customers to buy more at the lower price
a. True b. False Indicate whether the statement is true or false
A PPF is bowed outward as a result of
A) constant opportunity costs. B) increasing opportunity costs. C) decreasing opportunity costs. D) scarcity. E) choice.