A sole proprietorship is
A) the easiest type of business to set up.
B) the most difficult type of business to set up.
C) the most expensive type of business to set up.
D) the least profitable type of business to set up.
Answer: A
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Publishers practice price discrimination when they sell books at high prices to
A) early adopters. B) online book sellers. C) large chain bookstores. D) local bookstores.
A system of deposit insurance
A) attracts risk-taking entrepreneurs into the banking industry. B) encourages bank managers to decrease risk. C) increases the incentives of depositors to monitor the riskiness of their bank's asset portfolio. D) increases the likelihood of bank runs.
Wars, new inventions, harvest failures, and changes in government policy are examples of
A) the business cycle. B) economic models. C) shocks. D) opportunity costs.
Refer to the information provided in Table 14.6 below to answer the question that follows. Table 14.6B's Strategy ?AdvertiseDon't Advertise??A's profit $150 millionA's profit $400 million?AdvertiseB's profit $150 millionB's profit $100 millionA's Strategy????Don'tA's profit $100 millionA's profit $200 million?AdvertiseB's profit $400 millionB's profit $200 millionRefer to Table 14.6. What is the Nash equilibrium in the game?
A. (Advertise, Don't Advertise) B. (Don't Advertise, Advertise) C. (Don't Advertise, Don't Advertise) D. (Advertise, Advertise)