When a supplier becomes more profitable
a. there is increased benefits from acquiring it
b. the benefits from a stronger firm-to-firm relationship are increased
c. the benefits from a stronger firm-to-firm relationship are decreased
d. there is no additional reason to acquire it
d
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A voting procedure in which the alternative that receives the most votes wins, even if that alternative does not receive a majority of the votes, is known as the
A) Borda-count method. B) Condorcet method. C) instant runoff method. D) plurality-rule method
According to Keynesian economists, the aggregate supply curve is
a. horizontal b. vertical c. vertical at low levels of output and horizontal at high levels of output d. horizontal at low levels of output and vertical at high levels of output e. upward sloping
Nonexcludability causes:
A. firms to supply a lower quantity than they would if they incurred the full costs of the provision of the good. B. people to demand a higher quantity than they would if they had to pay for what they consumed. C. people to demand a lower quantity than they would if they paid for what they consumed. D. firms to supply a higher quantity than they would if they had to pay for what they supplied.
________ is the tendency to experience losses as more painful than the pleasures that result from gains of the same magnitude:
A. Loss aversion B. The availability heuristic C. The present-aim standard of rationality D. Fungibility