An exclusive contract:
a. makes it illegal to price discriminate.
b. requires a buyer to purchase all products from a specified supplier.
c. requires a buyer not to purchase any requirements from the competitor of a specified supplier.
d. requires the buyer to purchase a second product as a condition of receiving the one he wants.
e. requires a seller to market its product within a limited geographic territory.
c
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In the New Keynesian open economy model, suppose the exchange rate is flexible and there is a decline in total factor productivity
A) expansionary fiscal policy is necessary. B) contractionary monetary policy is necessary. C) expansionary monetary policy is necessary. D) no policy intervention is necessary.
Give some possible explanations of the productivity slowdown in the United States that occurred in the 1973-1995 period