In a perfectly competitive market, traders bear the risk of opportunism because they are not in a ...

In a perfectly competitive market, traders bear the risk of opportunism because they are not in a position to choose from numerous potential counterparties while making a deal.
  Indicate whether the statement is true or false

QUESTION 2

The corporate form of business started to become more prevalent in the United States economy in the late 1700s.
  Indicate whether the statement is true or false

QUESTION 3

Collusion among oligopolists would generally be easiest to achieve in which of the following situations?
 a. very few producers, producing differentiated products.
 b. very few producers, producing homogeneous products.
 c. a larger number of producers, producing differentiated products.
  d. a larger number of producers, producing homogeneous products.

QUESTION 4

Risk-averse people prefer to hold assets whose returns are positively correlated.
  Indicate whether the statement is true or false

QUESTION 5

Organizational structure can be a strategic asset if it
 A) adds value.
  B) adds value and can be duplicated.
  C) adds value and cannot be duplicated.
  D) can be franchised.

QUESTION 6

In which market structure is there the greatest degree of mutual dependence between firm in choosing their price and output policies?
 a. perfect competition.
 b. monopolistic competition.
  c. oligopoly.
 d. monopoly.

QUESTION 7

Unless the specialists involved in the different stages of production coordinate among themselves, specialization and division of labor can result in unused capacities and investment mismatches.
  Indicate whether the statement is true or false