1 Patents may be granted in order to seek to avoid which market problem?
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free riders |
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moral hazard |
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collusion |
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natural |
2
The US financial industry has exploited the lack of knowledge by consumers in order to greatly expand its profits. But when it famously failed, that same public had to come to its rescue. This is an example of
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Effective Discrimination |
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the free rider problem |
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antitrust enforcement failure |
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moral hazard |
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collusion |
3
Which of the following is true of an industry’s Herfindahl-Hirschmann Index (HHI)?
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A low score indicates a monopolistic market
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It is used to determine the amount of collusion in an industry
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It measures the amount of government involvement in an industry
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A high score indicates an oligopolistic market structure
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Higher scores indicate increasing power of labor over wages |
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