Peak-load pricing suggests that some prices are a function of
A) extensions.
B) time.
C) costs.
D) constant elasticities.
B
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One of the defining characteristics of a perfectly competitive market is what type of product ?
If one-time gains from defection are always less than the discounted present value of an infinite time stream of cooperative payoffs at some given discount rate, the decision-makers have escaped
a. the Folk Theorem b. the law of large numbers c. the Prisoner's dilemma d. the paradox of large numbers e. the strategy of recusal
In a competitive market, an efficient allocation of resources is characterized by:
a. a price greater than the marginal cost of production. b. the possibility of further mutually beneficial transactions. c. the largest possible sum of consumer and producer surplus. d. a value of consumer surplus equal to that of producer surplus.
The set of collectively held beliefs, values, and norms among the members of a firm that influence individual behavior is referred to as
A) network values. B) horizontal values. C) implicit contracts. D) corporate culture.