Economies of scope is when a firm obtains a production advantage from producing more than one product
Indicate whether the statement is true or false
True
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Suppose two firms with differentiated products are competing on price. The reaction curve for Firm 1 is P1 = 4 + 0.5 P2, and the reaction curve for Firm 2 is P2 = 4 + 0.5P1. What is the equilibrium price outcome in this market?
A) P1 = P2 = 4 B) P1 = P2 = 6 C) P1 = P2 = 8 D) P1 = 6 and P2 = 8
Another name for the money of checking accounts is
A. certificates of deposit. B. time deposits. C. demand deposits. D. bank notes.
The natural rate of unemployment
a. increases sharply during a recession but declines significantly during a business expansion. b. is the unemployment rate accompanying the economy's maximum sustainable output. c. is generally less than the unemployment rate associated with the economy's full-employment rate of output. d. is present when the economy operates at approximately 94 percent of its potential GDP.
If a U.S. textbook publishing company sells texts overseas, U.S. net exports
a. increase, and U.S. net capital outflow increases. b. increase, and U.S. net capital outflow decreases. c. decrease, and U.S. net capital outflow increases. d. decrease, and U.S. net capital outflow decreases.