Firms with market power offer a differentiated product in order to
a. follow the trends
b. increase market power
c. support its contractors in low-wage countries
d. fill up costly warehouses
e. All of the answers are correct.
B
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Use the following table to answer the question below. Jake's Production Possibilities ScheduleJane's Production Possibilities SchedulePounds of Green BeansPounds of CornPounds of Green BeansPounds of Corn01600801012020602080404030406020400800Without trade, Jake consumes 20 pounds of green beans and 80 pounds of corn, and Jane consumes 40 pounds of green beans and 40 pounds of corn. If the terms of trade are 1 pound of green beans for 3 pounds of corn, and Jake sells Jane 72 pounds of corn after specialization, then Jake consumes ________ pounds of green beans and ________ pounds of corn.
A. 72, 56 B. 24, 88 C. 88, 24 D. 56, 72
Apple, the consumer electronics giant, on Tuesday rolled out new versions of its popular iPhone. The CEO decided to decrease the price of iPhones in an attempt to increase total revenue from iPhone sales
One of his employees, Jess, disagrees and suggests that an iPhone price increase will increase total revenue. Who is CORRECT? A) The CEO is correct if demand is price elastic. B) The CEO is correct if demand is price inelastic. C) Jess is correct if demand is price elastic. D) Jess is correct if demand is unit elastic.
Prudential supervision is, in essence, the monitoring of ________
A) borrowers, to enforce restrictive covenants B) intermediaries, to direct credit to preferred sectors of the economy C) holders of an insurance policy, to discourage excessively risky behaviors D) depositors, to discourage sudden withdrawal of funds
The demand curve for money:
a. shows the amount of money balances that individuals and businesses wish to hold at various levels of private investment. b. reflects the open market operations policy of the Federal Reserve. c. shows the amount of money that households and businesses wish to hold at various rates of interest. d. indicates the amount that consumers wish to borrow at a given interest rate.