In designing an export plan, managers initially do all of the following EXCEPT ________.
A) sequence tactics
B) specify objectives
C) assess resources
D) organize financial support
D) organize financial support
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Under ________ there are many firms selling identical products
A) perfect competition B) monopolistic competition C) oligopoly D) monopoly
If you travel to Mexico you will often see currency exchange businesses along the way as you approach the border
Even though each of these businesses is essentially "selling" the same product (i.e. Mexican pesos) how is it that some of them are able to charge more for the peso than others?
When a shortage of a good is present due to a price ceiling,
a. the amount supplied will be greater than the amount demanded. b. the quality of the good will generally improve. c. non-price factors, such as discrimination or waiting in line, will play a greater role in the allocation of the good. d. the demand for the product will increase and, thereby, eliminate the shortage.
A profit-maximizing firm will shut down in the short run when
a. price is less than average variable cost. b. price is less than average total cost. c. average revenue is greater than marginal cost. d. average revenue is greater than average fixed cost.