Competitive price-searcher markets are common in
a. retail selling.
b. farming.
c. basic manufacturing.
d. electric power generation.
A
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Specialization allows for
A) more consumption for all trading partners. B) more consumption for the trading partner with the comparative advantage. C) more consumption for the trading partner with the absolute advantage. D) equal consumption among trading partners.
A __________ merger takes place when a firm buys another firm unrelated to the original firm's business.
Fill in the blank(s) with the appropriate word(s).
Higher input prices in large firms might lead to:
A. horizontal marginal cost curves. B. downward-sloping marginal cost curves. C. downward-sloping long-run average cost curves. D. upward-sloping long-run average cost curves.
Currently the main sources for basic research are
A. small businesses. B. large corporations. C. charitable organizations. D. government and universities.