When laws and regulations prohibit firms from selling at "prices less than cost,"
A) consumers benefit.
B) they are rarely enforced; therefore, competition is allowed to decline in the retailing industry.
C) they help maintain competition by eliminating one important advantage of large firms.
D) they must define "cost" arbitrarily since no firm has an incentive to sell below cost.
E) they serve as our most effective defense against predatory pricing.
D
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Output per worker is 50, the saving rate is 15 percent, the population is growing at one percent, depreciation is 9 percent, and the capital-labor ratio is 80. Consumption per worker is ________
A) 37.5 B) falling C) 75 D) 68
When the commons are converted into privately owned resources, _____
a. utilization is increased, and benefits to the society decline b. utilization is increased, and the benefits to the society also increase c. utilization is decreased, and the benefits to the society also decrease d. utilization remains unchanged, and the benefits to the society increase e. utilization is decreased, and the benefits to the society increase
Keynes argued that the factors that make up aggregate demand are stable and do not change unexpectedly.
Select whether the statement is true or false. A. True B. False
In the prisoner's dilemma game:
A. if players can communicate in advance, they may still not cooperate. B. if players can communicate in advance, they will always cooperate. C. will only cooperate if they are trustworthy. D. will always choose to cooperate.