A. Firms compete against each other
B. Price wars are common
C. Firms use price to win market from competitors
D. Firms collude
A. deregulation
B. making markets contestable
C. natural monopoly.
D. cross-subsidization.
A. many buyers and sellers
B. a standard product
C. free entry and exit
D. perfect information
E. all of the above
A. Property right
B. Sole right
C. Copyright
D. Right
A. decrease the value of the marginal product of fishermen reduces their wage, and reduces employment in the fishing industry
B. increase the value of the marginal product of fishermen increase their wage, and increase employment in the fishing industry.
C. decrease the value of the marginal product of fishermen, reduces their wage, and increases employment in the fishing industry
D. increase the value of the marginal product of fishermen increase their wage and decreases employment in the fishing industry
A. Money flight
B. Capital drain
C. Free flow
D. Capital flight
A. fine tuning
B. monestarism
C. microeconomics foundations of macroeconomics
D. the classical model