According to the law of supply:
A. more of a good is desired by consumers as the price falls.
B. less of a good is desired by consumers as the price rises.
C. more of a good will be offered by suppliers as the price rises.
D. less of a good will be offered by suppliers as the price rises.
Answer: C
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The table above shows sales of the firms in the pet food industry. The Herfindahl-Hirschman Index in the industry is
A) 1260. B) 1443. C) 1100. D) 1588.
In the short run, macroeconomic analysis focuses on ________, while in the long run, the focus is on ________
A) fiscal policy; monetary policy B) short-run economic growth; population demographics C) unemployment; inflation D) the business cycle; long-run economic growth
Government regulations
A) have no impact on supply. B) only change the quantity supplied, not the supply curve. C) are generally ineffective due to lobbying by suppliers. D) can change both quantity supplied as well as the supply curve.
Strategy is
a. The art of matching the resources and capabilities of a firm to the opportunities and risks in its environment b. Developing a resource for the company that is both rare and valuable to create competitive advantage c. Making sure that the resource developed is non-fungible to create a sustainable advantage d. All of the above