Retailers often do not find it profitable to engage in promotional activities because
a. They cannot reap the full benefits of the promotion
b. They have to share the benefits of the promotion with the manufacturer
c. They are wary of competing retailers' ability to "free ride" on their efforts
d. All of the above
d
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The phase in the business cycle marked by a relatively high level of real GDP, full employment, and inflation is
a. recovery b. expansion c. stagflation d. prosperity e. economic growth
At any point where a monopolist's marginal revenue is positive, the downward-sloping straight-line demand curve is:
A. perfectly elastic, as is the perfectly competitive firm's. B. elastic but not perfectly elastic, and a perfectly competitive firm's demand curve is perfectly elastic. C. elastic but not perfectly elastic, as is the perfectly competitive firm's. D. inelastic, while a perfectly competitive firm's demand curve is perfectly elastic.
Which of the following is closest to a perfectly competitive market?
A. the market for breakfast cereal B. the market for automobiles C. the market for corn D. the pizza market
If real GDP declines in a given year, nominal GDP:
A. Must also be declining B. Must also be increasing C. May either rise or fall D. Is likely to remain constant