An Australian company makes athletic wear for women, men, and children. After several years of successfully exporting its products to the U.K. and the U.S., the company began exporting to Japan. This is an example of ________.
A) a born-global company
B) a location advantage
C) third-party exporting
D) incremental internationalization
D) incremental internationalization
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Refer to the scenario above. Suppose the interest rate is 5 percent. In this case, you will have ________ in your account after one year
A) $533 B) $546 C) $550 D) $580
Pension fund growth has been spurred by the recent development of "defined __________ plans," such as the __________ plan
A) benefit; 401(k) B) benefit; Keogh C) contribution; 401(k) D) contribution; Keogh
Which of the following is true?
a. The objective of the firm is to maximize profits, by producing the amount that maximizes the difference between its total revenues and total cost. b. The objective of the firm is to maximize profits, by producing the amount that maximizes the difference between its average revenue and average total cost. c. The objective of the firm is to maximize profits, by producing the amount that maximizes the difference between its average revenue and average variable cost. d. The objective of the firm is to maximize profits, by producing the amount that maximizes the difference between its marginal revenue and marginal cost.
Which of the following conditions does not need to occur for a market to achieve allocative efficiency?
A. Consumers' maximum willingness to pay equals producers' minimum acceptable price for the last unit of output. B. The sum of producer and consumer surplus is maximized. C. The total revenue received by producers equals the total cost of production. D. The marginal benefit of the last unit produced equals the marginal cost of producing that unit.