If firms have different costs and market demand only supports the quantity the incumbent produces, then the incumbent's threat to use limit pricing
A) is credible.
B) is not credible.
C) would be illegal.
D) is unable to be determined with the information given.
Question 2
Which of the following are reasons why Social Security is compulsory?
a. A pay-as-you-go system needs new contributors to maintain solvency.
b. A pay-as-you go system cannot let older individuals opt out of benefits.
c. The adverse selection problem.
d. all of the above
e. a and c
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