How does the Competition Act prohibit price-fixing? Select one: a. A price-fixing agreement can lead to prosecution, provided the government can show that the public was not well-served by the agreement. b. Activities such as bid-rigging price discrimination and predatory pricing are all subject to prosecution, but resale price maintenance is allowed. c. Competing executives may not even talk about fixing prices, d. Competing executives may talk about fixing prices, but they cannot take action to fix prices. The product-variety externality is associated with Select one: a. the consumer surplus that is generated from the introduction of a new product. b. the producer surplus that accrues to incumbent firms in a monopolistically competitive industry. c. loss of consumer surplus from exposure to additional advertising. d. the opportunity cost of firms exiting a monopolistically competitive industry. Oligopolists may be able to reach their preferred, cooperative outcome Select one: a. if a sufficient number of firms can be persuaded to lower their prices. b. if they learn that a Nash equilibrium is in their best long-term interest. c. if the number of oligopolists is large. d. If the game they play is repeated a sufficient number of times.
How does the Competition Act prohibit price-fixing? Select one: a. A
How does the Competition Act prohibit price-fixing? Select one: a. A price-fixing agreement can lead to prosecution, provided the government can show that the public was not well-served by the agreement. b. Activities such as bid-rigging price discrimination and predatory pricing are all subject to prosecution, but resale price maintenance is allowed. c. Competing executives may not even talk about fixing prices, d. Competing executives may talk about fixing prices, but they cannot take action to fix prices. The product-variety externality is associated with Select one: a. the consumer surplus that is generated from the introduction of a new product. b. the producer surplus that accrues to incumbent firms in a monopolistically competitive industry. c. loss of consumer surplus from exposure to additional advertising. d. the opportunity cost of firms exiting a monopolistically competitive industry. Oligopolists may be able to reach their preferred, cooperative outcome Select one: a. if a sufficient number of firms can be persuaded to lower their prices. b. if they learn that a Nash equilibrium is in their best long-term interest. c. if the number of oligopolists is large. d. If the game they play is repeated a sufficient number of times.
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