If consumers have limited information about price and search costs exist, then
A) the result must be that all firms will charge the same price.
B) the monopoly price must result.
C) the full-information, competitive price is not an equilibrium.
D) the difference in prices between firms will be greater than the search cost.
C
Economics
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When a minimum-wage law forces the wage to remain above the level that balances supply and demand, the quantity of labor supplied is lower and the quantity of labor demand is higher than at the equilibrium wage
a. True b. False Indicate whether the statement is true or false
Economics
Long-term interest rates are ________ than short-term interest rates because long-term loans are ________ than short-term loans.
Fill in the blank(s) with the appropriate word(s).
Economics