Nondiscriminatory firms hiring in the market place have a cost advantage.
Answer the following statement true (T) or false (F)
True
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If income rises, most consumers will increase the quantity demanded of an inferior good.
Answer the following statement true (T) or false (F)
Intellectual property
a. requires copyright protection that is expensive to obtain, but cheap to enforce b. usually ends up being owned by the government c. is costly to produce, but can be transmitted at low cost d. cannot be owned by anyone e. is usually located on college campuses
The demand for good X is estimated to be Qxd = 10, 000 ? 4PX + 5PY + 2M + AX, where PX is the price of X, PY is the price of good Y, M is income, and AX is the amount of advertising on X. Suppose the present price of good X is $50, PY = $100, M = $25,000, and AX = 1,000 units. Based on this information, the cross-price elasticity between goods X and Y is:
A. 0.008. B. ?0.8. C. ?0.08. D. ?8.
A merger between two firms manufacturing electrical machinery is a
What will be an ideal response?