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Title: According to the Coase theorem, if the initial distribution of rights favors some party, market ... Post by: knbst12 on Feb 27, 2018 According to the Coase theorem, if the initial distribution of rights favors some party, market efficiency will ensure that the net benefits to that party are maximized.
Indicate whether the statement is true or false QUESTION 2 If regulators were to ensure that monopolistically competitive firms follow a marginal cost-pricing rule: a. new firms would be likely to enter the market. b. the most efficient firms would not likely be affected. c. all firms would experience losses. d. firms would operate at the most efficient scale. QUESTION 3 The farmer's association is a type of government with unlimited jurisdiction. Indicate whether the statement is true or false QUESTION 4 When firms exit a monopolistically competitive market: a. product variety diminishes. b. prices fall. c. profits decrease (losses increase). d. the demand curves of established firms shift to the right. QUESTION 5 Although a LoJack benefits the community as a whole by lowering the incidence of theft, an individual car owner may prefer not to install it. Indicate whether the statement is true or false QUESTION 6 When firms enter a monopolistically competitive market: a. product variety diminishes. b. the demand curves of established firms shift to the right. c. prices fall. d. profits increase. QUESTION 7 A contract between a bee keeper and an orchard farmer usually break because of the high cost of writing the contract. Indicate whether the statement is true or false Title: According to the Coase theorem, if the initial distribution of rights favors some party, market ... Post by: PrincessArizona on Feb 27, 2018 |