Double markup problems arise when
a. upstream firms have no market power
b. downstream firms have market power
c. upstream and downstream products are unrelated in demand
d. upstream and downstream firm's pricing decisions tend to increase the demand for the other product
b
Economics
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Economic analysis requires both mathematical reasoning and historical study
a. True b. False Indicate whether the statement is true or false
Economics
If the government does not provide it, the quantity of a nonexcludable good that private firms will choose to produce is
A. zero. B. more than the optimal amount. C. the optimal amount. D. optimal only if property rights are assigned. E. optimal only if the industry is competitive.
Economics