Double markup problems arise because
a. upstream firms have no market power
b. downstream firms have no market power
c. upstream and downstream products are complementary in demand
d. upstream and downstream firm's pricing decisions tend to increase the demand for the other product
c
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Which of the following labor organizations was limited to skilled craft workers and emphasized that unions should control the place of employment; stick to wages, hours, and working conditions in their negotiations; win strikes; and, in politics,
"reward our friends and punish our enemies"? (a) The National Labor Union (b) The Knights of Labor (c) The American Federation of Labor (d) The American Labor Union
In a competitive market, if buyers did not know all the prices charged by the many firms
A) all firms still face horizontal demand curves. B) firms sell a differentiated product. C) demand curves can be downward sloping for some or all firms. D) the number of firms will most likely decrease.
Because there is a trade-off between inflation and unemployment in the short run,
a. lower unemployment will typically cause inflation to fall. b. policies designed to reduce unemployment will typically set off a recession. c. policies designed to reduce inflation will cause unemployment to fall as well. d. higher inflation will generally be associated with higher unemployment. e. lower inflation will generally be associated with higher unemployment.
Which of the following was not a major area addressed by the Dodd-Frank Bill (i.e., Wall Street Reform and Consumer Protection Act of 2010)
a. Reducing systemic threats to the U.S. financial system. b. Solving the "too small to survive" problem in the U.S. financial system. c. Improving credit rating agency performance and accountability. d. Preventing spillover effects in the financial industry.