A car dealer that maintains a large number of automobiles on their lot so that they avoid losing a sale to another dealer who has the make and model a given customer wants is engaged in ________
A) production smoothing
B) work in process
C) stock-out avoidance
D) first degree price discrimination
C
You might also like to view...
Consider a consumer with a choice set that emerges from an exogenous income I. Suppose that, as a result of changes in a consumer's economic circumstances, the budget line rotates outward, with the vertical intercept remaining unchanged but the horizontal intercept shifting to the right. How could this have happened if the price of the good on the horizontal axis did not change?
What will be an ideal response?
One of the assumptions underlying the production possibilities curve for any given economy is that:
a. the state of technology changes. b. there is an unlimited supply of resources. c. there is full employment of resources when the economy is on the curve. d. goods can be produced outside the curve.
Figure 7-7
In Figure 7-7 at 100 units, AFC equals
a.
10.
b.
100.
c.
180.
d.
1,000.
In monopolistically competitive industries, firms find it easy to enter and exit the market in the long run.
Answer the following statement true (T) or false (F)