An industrial union can obtain a wage higher than the competitive level
a. without any change in total employment
b. at the cost of a reduction in total employment
c. and achieve higher total employment as well
d. and achieve the same or higher total employment
e. thus increasing the quantity of labor demanded
B
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In an unbalanced oligopoly, the sales of the leading firms
a. are unevenly distributed b. are larger than the sales of all other firms c. are larger than their market shares d. are smaller than in a balanced oligopoly e. grow faster than in a balanced oligopoly
OPEC is able to raise the price of its product by
a. tying. b. setting production levels for each of its members. c. increasing the supply of oil above the competitive level. d. imposing resale price maintenance agreements on members.
The practice of tying is used to
a. enhance the enforcement of antitrust laws. b. encourage the enforcement of collusive agreements. c. control the retail price of a collection of related products. d. package products to sell at a combined price closer to a buyer's total willingness to pay.
Under a Coase bargaining solution, deal making between the two parties continues until the marginal ________ to the harmed party equals the marginal ________ to the other party.
A. benefit; benefit B. benefit; cost C. cost; benefit D. cost; cost