General Electric and Westinghouse were convicted of
A. Price-fixing.
B. Price leadership.
C. Marginal cost pricing.
D. Allocation of market shares.
Answer: A
Economics
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A person can benefit from specialization and trade by obtaining a good at a price that is
a. lower than his or her opportunity cost of that good. b. the same as his or her opportunity cost of that good. c. higher than his or her opportunity cost of that good. d. different than his or her opportunity cost of that good.
Economics
Adverse selection and moral hazard arise because of
A. mechanism designs for dealing with informational problems. B. asymmetric information. C. selection problems. D. risk aversion.
Economics