Which statement is true?
A. A change in derived demand brings about a change in final demand.
B. A change in final demand brings about a change in derived demand.
C. A rise in final demand is associated with a decline in derived demand.
D. None of these statements are true.
B. A change in final demand brings about a change in derived demand.
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Total costs increase from $1500 to $1800 when a firm increases output from 40 to 50 units. Which of the following are true?
a. AC rise by $1.50 b. AC rise by $1.00 c. AC fall by $1.50 d. AC fall by $1.00
If people want more cars than there are cars available, then it is necessarily true that
A) cars are scarce. B) there is a surplus of cars. C) there is a decreased supply of cars. D) none of the above
You are an entrepreneur with an innovative idea for a new buisness. In which kind of economy would you have the most opportunity to try to achive success?
a) market economy b) command economy c) traditional economy d) economy for sale
Franchising mitigates:
A. the hold-up problem. B. the principal-agent problem. C. opportunism. D. relationship-specific investment.