Answer: these mechanisms might be a) enforceable contracts
, b) repeated interactions c) institutions that alter the distribution of power.
Explanation:
Enforceable contracts means contracts that are achievable by the parties because they have tied to certain padlocks.
Repeated interactions means they are predictable.
Too much power corrupt institutions. If there is redistribution of power there will be better outputs for all the members of society.
Examples include government policies that impact spending for welfare, public education, highways, and public safety, or a professional organization's benefits plan.
How far you have to drive to the store to buy an item impacts the consumption utility you associate with it.
This statement is FALSE.
Common utilities include water, sewage, electricity, gas, garbage and recycling. Technology subscriptions such as cable TV, internet, security, and phone services can also be considered utilities. Home utility bills are similar to apartment utility bills, with one major exception. Who will pay the utility bills?
Utility in economics refers to the benefit or enjoyment a consumer obtains from a service or product. The concept of utility is abstract, but it helps explain how and why consumers make choices. "Ordinal" utility refers to the concept that one good is more useful or desirable than another.
Learn more about utility here:brainly.com/question/24922430
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Answer:
Oligopoly is a market structure with a small number of firms, none of which can keep the others from having significant influence.
Explanation:
The three most important characteristics of oligopoly are:
(1) an industry dominated by a small number of large firms,
(2) firms sell either identical or differentiated products, and
(3) the industry has significant barriers to entry.
