ECO 201 Chap 13

What do Wal-Mart , Microsoft Corp and dell companies have in common

When large firms in oligoply markets cut their prices

The fraction of an industry's sales that are accounted for by the largest firms is called

As a measure of competition in an industry, concentration ratios have several flaws. One of these flaws is the concentration ratios

Which of the following is NOT a characteristic of oligopoly

Economies of scale will create a barrier to entry in an oligopoly industry when

The DeBeers Company blocked competititon

The justification for occupational licensing lasw is that they protect the public from imcompetent practitioners (for example, lawers and med doctors, but the laws also result in

In economics, the study of the decisions of firms in industries where the profits of each firm depend on its interactions with other firms is called

When an oligolpoly market is a Nash equalibrium

Prisoner's dilemma games imply that cooperative behavior between two people two firms always breaks down. But reality teaches us that people and firms often cooperate successfully to achieve their goals. Why do the results from prisoner's dilemma games fail to predict real world results?

Which of the following is an example of implicit collusion or oligopoly

All of the following are ways by which existing firms can deter the entry of new firms into an industry except

A large majority of personal computers (PCs) in the US used an operating system purchased from Microsoft. Microsoft relationship w PC manufacturers is an example of which of Porter's competitive forces?

The supplier of an input is unlikely to have bargining power if