Economists claim that a resale price maintenance agreement is not anti-competitive because
a. suppliers are never able to exercise noncompetitive market power.
b. if a supplier has market power, it will be likely to exert that power through wholesale price rather than retail price.
c. retail markets are inherently noncompetitive.
d. retail cartel agreements cannot increase retail profits.
b
Economics
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Refer to the table above. What is the equilibrium price of notebooks?
A) $4 B) $6 C) $2 D) $7
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In recent years, the number of farms has fallen while the average farm size has increased. What concept may explain this phenomenon?
a. diminishing marginal returns b. declining productivity c. diseconomies of scale d. economies of scale e. good weather in midwestern states
Economics