According to the five forces framework, sustainable industry profits depend upon:
A. the power of input suppliers.
B. industry entry conditions.
C. the degree of industry rivalry.
D. All of the statements associated with this question are correct.
Answer: D
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Which statement is true regarding a market in equilibrium
a. There is a shortage of the good. b. There is a surplus of the good. c. Neither demanders or suppliers are satisfied. d. Both demanders and suppliers are satisfied.
In 2015, JPMorgan Chase announced it was laying off employees. The employees who were laid off due to the business cycle would be considered
A) structurally unemployed. B) seasonally unemployed. C) cyclically unemployed. D) frictionally unemployed.
An increase in the demand for the Brazilian real induces
A. a decrease in the supply of dollars. B. an increase in the demand for Brazilian goods. C. an increase in the dollar price of a real. D. an increase in the real price of a dollar.
Oscar consumes only two goods, X and Y. Assume that Oscar is not at a corner solution, but he is maximizing utility. Which of the following is NOT necessarily true?
A) MRSxy = Px/Py. B) MUx/MUy = Px/Py. C) Px/Py = money income. D) Px/Py = slope of the indifference curve at the optimal choice. E) MUx/Px = MUy/Py.