Which of the following problems does not affect small firms:
a. scarcity of appropriately-skilled workers
b. consumer preference for imported products
c. adapting modern technology consistent with the scale of output
d. government officials' preference for larger firms
e. all of the of the above are problems for small firms
A
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The Federal Reserve was created in
A) 1893. B) 1913. C) 1921. D) 1933.
If an oligopolistic game is repeatedly played, which of the following can occur?
A) Players can learn ways to cooperate and earn an economic profit. B) The competitive price and output consistently is the final result. C) Firms can learn how to cheat more effectively on the other player. D) One firm will be driven out of business. E) An implicit agreement is reached in which one firm constantly cheats on the cartel and the other firm complies with it.