Which of the following risks cannot be hedged by an insurance?
a. Exports damaged during shipment
b. Theft during movement of goods
c. An electrical fire at a warehouse
d. Decreased sales resulting from poor salesmanship
D
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Because of a regulatory environment that encourages foreign participation and competition in financial services, the domestic markets in the __________ are not really distinct from the foreign markets
A) the United Kingdom B) the United States C) Japan D) Germany
A monopoly will NOT be able to perfectly price discriminate if
A) obtaining information about each buyer's reservation price is too costly. B) demand is very elastic. C) demand is very inelastic. D) resale is impossible.
A severe drought has devastated cocoa plants, causing an increase in the price of chocolate. In the market for chocolate chip cookies
A) a surplus will arise. B) supply has decreased and price has increased. C) quantity has decreased and price has decreased. D) quantity demanded has increased.
A perfectly competitive industry is in long-run equilibrium. If demand for the product decreases, we can expect:
A. firms to enter the market. B. firms to exit the market. C. no change in the number of firms in the market. D. There is not enough information to tell what will happen to the number of firms in the market.