An agreement among firms regarding price and/or production levels is called   a free-trade arrangement collusion a Nash agreement an antitrust market

In less than two years in the early 1920s, the cost of a German newspaper rose from 30 marks to 70,000,000 marks. This is a spectacular example of market power caused by a change in the country’s standard of living market power caused by a single firm controlling the newspaper production inflation caused by increased productivity in the economy inflation caused by an increase in the quantity of money in the economy

All points on an indifference curve indicate 1. equal cost 2. equal utility 3. equal profit 4. equal income

The downward­ sloping line on the figure represents a consumer’s budget constraint If the consumer’s income is $140, then what is the price of a CD?   $5 $7 $9 $3

Suppose we observe that the outcome of the game is one in which each company earns a profit of $10 million. This outcome   is the result of cooperation between the two companies, and we know that a cooperative outcome is easy in a game such as this one is the result of cooperation between the two companies, and we know that a cooperative outcome is difficult in a game such as this one is the most likely outcome of the game, regardless of whether the two companies cooperate is the result of each company pursuing its dominant strategy

The purpose of antitrust (also known as competition) laws is to increase competition in an industry by preventing mergers and breaking up large firms. increase merger activity to help generate synergies that reduce costs and raise efficiency. subsidize monopolies when they are making losses create public ownership of natural monopolies.

What is the Non-Financial Decision Making rule? 

What are the main sources of personal risk?

Which of the following offers an explanation as to why the principal-agent problem exists for a firm? The firm cares less about profit and more about cost when there are many competitors in the market The firm offers an employee­incentive program in which employees share in the firm’s profit The firm operates in a market with many competitors forcing the firm to pay its employees more to keep them from switching to another firm The firm operates to maximize profit while the employees attempt to work as little as possible to earn their paycheck

What are the most common ways to treat personal risks?