Question

QUESTION 2

1. A noncooperative game is

   		the manner in which one oligopolist reacts to a change in price made by another oligopolist in the industry.
   		a game in which firms will not negotiate in any way.
   		when plans made by firms are known as game strategies.
   		companies colluding in order to make higher than competitive rates of return.

1 points   

QUESTION 3

1. One of the basic differences between social and economic regulations is that

   		economic regulations only apply to financial institutions while social regulations apply to a greater variety of institutions.
   		social regulations only apply to non-profit organizations while economic regulations apply only to for-profit organizations.
   		economic regulations cover only particular industries while social regulations apply to all firms in the economy.
   		economic regulations focus on the banking industry while social regulations focus on monopolies.

1 points   

QUESTION 4

1. Ajax Corporation has just started advertising that there are 16 ounces in every package. In reality the packages contain only 14 ounces. This misleading advertising

   		is exempt from the antitrust laws.
   		is in violation of the Robinson-Patman Act.
   		could be subject to an investigation by the Federal Trade Commission.
   		could be subject to an investigation by the Sherman Commission.

1 points   

QUESTION 5

1. The Sudsy Soda Company will not sell its soft drinks to a restaurant unless that business also buys paper cups from Sudsy. This requirement is an example of

   		price differentiation.
   		complementary pricing.
   		product versioning.
   		tie-in sales.

Answer 1

Answer
2 companies colluding in order to make higher than competitive rates of return.
In oligopoly firms violate the predetermined plans made by other firms to increase profits.

3 economic regulations cover only particular industries while social regulations apply to all firms in the economy.
Every firm is accountable to social costs it incurs, economic regulations are usualy put on market which are inefficient towards the total surplus attainable

4 could be subject to an investigation by the Federal Trade Commission.
The federal trade commission takes care of all the consumer related interests

5 tie-in sales.
Tie in sales require the constumer the other product is it tied in to.

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