Predatory pricing:
A. is when a firm intimidates others to maintain the high prices the largest firms set.
B. is an aggressive business move to maintain market power.
C. was used by DeBeers to maintain control over the diamond market.
D. All of these statements are true.
Answer: B
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McKeown's (1976) research attributed the majority of the secular decline in mortality rates in Europe and North America to
a. better nutrition and housing. b. improved sanitary conditions. c. clean water and waste disposal. d. reduced exposure to diseases. e. better medical care.
Which one of the following statements is true?
a. Money flows from households to firms for resources. b. Money flows from households to foreign economies for exports. c. Money flows from government to firms for resources. d. Money flows from foreign economies to firms for imports. e. Money flows from firms to households for resources.
Which of the following statements is true about the utility possibility frontier (UPF) for two people trying to strike a deal?
a. It limits the moves two individuals can make at different stages of the game. b. It tells us how the point on the UPF that they finally reach might differ with their bargaining tactics. c. It predicts the exact point where the two bargainers will end up irrespective of their bargaining tactics. d. It tells us how the point on the UPF that they finally reach might differ with their personal characteristics
Monopsony firms will hire more workers than they would if the labor market were competitive
Indicate whether the statement is true or false