In a successive monopoly structure, the profit-maximizing wholesale price is equal to the difference between the ________ and the ________ of distribution.
A) wholesale demand; marginal cost
B) retail demand; marginal revenue
C) wholesale demand; marginal revenue
D) marginal revenue; marginal cost
D) marginal revenue; marginal cost
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In a winner-take-all system, the highest incomes go to people with questionable skills, but who are the most competitive in the labor market
Indicate whether the statement is true or false
In which of the following product markets are we likely to observe the largest amount of advertising?
a. markets with highly differentiated products b. perfectly competitive markets c. markets in which industrial products are sold d. markets in which there is very little difference between different firms' products
A Stronger U.S. dollar in world exchange markets means that
A. a dollar buys fewer units of foreign currency than it could before. B. foreigners buy the same amount of U.S. dollars as they have. C. a dollar buys the same amount of foreign currency than it could before, with gold backing up the value of the dollar. D. a dollar buys more units of foreign currency than it could before.
In economics, choosing one activity means:
A. people signal they only like that activity. B. people always act rationally. C. choosing not to take advantage of another opportunity. D. that activity must be observable to be studied.