_____ increases with the variability of outcomes and the underlying degree of randomness in the environment that can affect a business relationship
a. The problem of double marginalization
b. Asset specificity
c. Uncertainty
d. Volumetric interdependence
C
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The price of natural gas fell and the quantity sold also fell. Everything else being equal, it is consistent that
A. the price of oil fell. B. natural gas workers received large wage increases. C. more efficient gas drilling equipment was installed. D. consumer incomes rose. E. the supply of natural gas fell.
Increased labor demand will result in
A) lower wages. B) more employment benefits. C) higher wages. D) no change in wages.
If positive externalities are present in a free market, ________ at any output level
A) the marginal cost of production equals the average cost of production B) the marginal social cost of production exceeds the marginal private cost C) the marginal private benefit from production equals marginal social benefit D) the marginal social benefit of production exceeds marginal private benefit
What is the lowest price at which a firm produces an output? Explain why
What will be an ideal response?