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Author Question: There are a few firms in the automobile industry in Poorland. In order to prevent a price war, these ... (Read 33 times)

Lobcity

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on: Jun 29, 2018
There are a few firms in the automobile industry in Poorland. In order to prevent a price war, these firms have secretly agreed to charge a price 20 above the marginal cost of production. This is an example of ________.
 
  A) free riding
  B) undercutting
  C) collusion
  D) cost-cutting

Question 2

The optimal bidding strategy in a first-price sealed-bid auction is identical to the optimal bidding strategy in a(n) ________ auction.
 
  A) open-outcry English
  B) open-outcry Dutch
  C) second-price sealed-bid
  D) dollar


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choc0chan

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

B


Lobcity

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

elyse44

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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