This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: An oligopoly firm is generally characterized by: a. its consideration of rivals' reactions. b. the ... (Read 47 times)

EY67

  • Hero Member
  • *****
  • Posts: 531
on: Jun 30, 2018
An oligopoly firm is generally characterized by:
 a. its consideration of rivals' reactions.
 b. the sale of standardized products.
 c. the possibility of realizing profits in the long run.
  d. both (a) and (c).

Question 2

When does an incomplete contract prove beneficial?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

vseab

  • Sr. Member
  • ****
  • Posts: 323
Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

A contract may remain incomplete because the expected benefits of greater completeness
do not cover the costs of drafting it. In some situations an incomplete contract can discourage opportunistic behavior. Incompleteness may also be helpful if at the time the parties draft the agreement they do not know how they can best react to certain contingencies.


EY67

  • Member
  • Posts: 531
Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

nyrave

  • Member
  • Posts: 344
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Street names for barbiturates include reds, red devils, yellow jackets, blue heavens, Christmas trees, and rainbows. They are commonly referred to as downers.

Did you know?

Always store hazardous household chemicals in their original containers out of reach of children. These include bleach, paint, strippers and products containing turpentine, garden chemicals, oven cleaners, fondue fuels, nail polish, and nail polish remover.

Did you know?

Pregnant women usually experience a heightened sense of smell beginning late in the first trimester. Some experts call this the body's way of protecting a pregnant woman from foods that are unsafe for the fetus.

Did you know?

The average person is easily confused by the terms pharmaceutics and pharmacology, thinking they are one and the same. Whereas pharmaceutics is the science of preparing and dispensing drugs (otherwise known as the science of pharmacy), pharmacology is the study of medications.

Did you know?

Drug-induced pharmacodynamic effects manifested in older adults include drug-induced renal toxicity, which can be a major factor when these adults are experiencing other kidney problems.

Initial velocities of enzyme-catalyzed reactions Initial velocities of enzyme-catalyzed reactions
J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo
The hazmat training pyramid. It is important to train from the ground up, starting with a firm grasp ... The hazmat training pyramid. It is important to train from the ground up, starting with a firm grasp ...
Evolution of Photosynthesis: reactions of the C4 cycles Evolution of Photosynthesis: reactions of the C4 cycles
Reactions of the glyoxylate cycle Reactions of the glyoxylate cycle
Metabolic reactions involving synthesis, interconversion, and utilization of one-carbon adducts of t Metabolic reactions involving synthesis, interconversion, and utilization of one-carbon adducts of t
Video: Mechanisms for chromosome movement Animation

For a complete list of videos, visit our video library