The five forces model is a framework
a. For increasing buyer force in the market
b. For improving competition in the industry
c. For analyzing the attractiveness of an industry
d. Of matching resources and capabilities of the firm
c
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A monopolistic competitor incurs losses if ________
A) price is higher than average total cost B) price is lower than marginal cost C) price is equal to marginal cost D) price is lower than average total cost
Currency in the United States today is
A) fiat money. B) intrinsic money. C) backed by gold. D) quasi- intrinsic.
Which of the following is an example of an international externality, in which production (or consumption) activities in one country impose external costs on other countries?
A. Transborder pollution B. Moral hazard C. Persistent dumping D. Free-riding
If you can consume a good at the same time that others consume the same good, the good is nonrival in consumption.
Answer the following statement true (T) or false (F)