Cost-plus pricing is a reasonable way to determine the optimal price when
A) fixed costs are high.
B) marginal cost and average cost are roughly equal.
C) fixed costs vary.
D) fixed cost and variable costs are roughly equal.
B
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Which of the following statements is correct?
A) Open market purchases are expansionary and open market sales are contractionary. B) Open market purchases are contractionary and open market sales are expansionary. C) Both open market purchases and open market sales are expansionary. D) Both open market purchases and open market sales are contractionary.
If the roommates played the game repeatedly where one roommate not cleaning this time would trigger the other roommate not cleaning next time, the Nash equilibrium is most likely to be
a. John cleans, Joe doesn't b. Joe cleans, John doesn't c. Both of them clean d. Neither of them clean
Strikes are expensive for
a. workers only because their income falls b. employers only because their revenue falls c. the public only because output falls d. both the public and employers because workers are compensated by the union for lost income e. workers, employers, and the public
In what geographic areas would a market-oriented system that remains closer to the command economy end of the spectrum most likely be found?
a. parts of Asia, Africa, and South America b. Cuba and North Korea c. Europe and the United States d. China and Russia