Which of the following contracts contain vertical restrictions that limit the transacting parties' choices but create economic value?
a. An agreement between firms to jointly invest in research and development.
b. A franchise contract specifying exclusive territory of operation.
c. A contract amongst competitive firms on an uniform pricing strategy.
d. A collusion between two oligopoly firms specifying individual production.
B
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Bob's utility function is shown in the above figure. He currently has $100 worth of property, but there is a 50% chance that all of it will be stolen. An insurance company offers to reimburse Bob for his loss if the money is stolen
What is the most that Bob would pay for such a policy? Explain.
If your income increases from $30,000 to $35,000 and your consumption increases from $11,000 to $12,000 . your marginal propensity to consume (MPC) is:
a. 0.2. b. 0.4. c. 0.5. d. 0.8. e. 1.0.