ECO 550 Final Exam

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ECO 550 Final Exam

1. In making promises that are not guaranteed by third parties and in imposing penalties that are not enforced by third parties, all of the following are credibility-enhancing mechanisms except

2. Essential components of a game include all of the following except:

3. A key to analyzing subgame perfect equilibrium strategy in sequential games is 4. When airlines post prices on an electronic bulletin board at 8:00 a.m. each morning, the decision-makers are engaged in

5. Credible promises and hostage mechanisms can support a continuous stream of cooperative exchanges except when

6. Firms that have a cover charge for their customers and charge for each item they purchase as well are exhibiting

7. The segmenting of customers into several small groups such as household, institutional, commercial, and industrial users, and establishing a different rate schedule for each group is known as:

8. Vacation tours to Europe invariably package visits to disparate regions:  cities, mountains, and the seaside.  Bundling, a type of second degree price discrimination, is most profitable when:

9. Which of the following pricing policies best identifies when a product should be expanded, maintained, or discontinued?

10. ____ is a new product pricing strategy which results in a high initial product price. This price is reduced over time as demand at the higher price is satisfied.

11. Which of the following is not among the functions of contract?

12. Mac trucks and their dealers would likely have an organizational form of

13. Contracts are distinguished from tactical alliances by which of the following characteristics:

14. Which of the following are not approaches to resolving the principal-agent problem?

15. When retail bicycle dealers advertise and perform warranty repairs but do not deliver the personal selling message that Schwinn has designed as part of the marketing plan but cannot observe at less...
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