If A>B and B>C do not imply A>C, where > means "preferred to", then preferences are intransitive
Indicate whether the statement is true or false
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Refer to the table below. If the senior manager learns that either a Good or Poor market will exist when the drug is introduced to the market, which drug should the senior manager not pursue?
The senior manager of Rx Pharmaceuticals needs to decide which of three drugs the company should consider developing. The estimated profit for each of the drugs differs depending on the market conditions when the respective drugs are introduced to the market. The above table summarizes the estimated profit for each drug under each of the three market conditions; Good, Fair, and Poor.
A) Drug A
B) Drug B
C) Drug C
D) none of the drugs
Factory incentives on cell phones have encouraged consumers to upgrade their phones. How does this affect the market for bluetooth headsets?
A) The quantity of bluetooth headsets demanded increases. B) The quantity of bluetooth headsets demanded decreases. C) The demand for bluetooth headsets increases. D) The demand for bluetooth headsets decreases.
Assume the market for hammers is perfectly competitive and the current price is $15. If, at this price, the quantity of hammers demanded is 15,000, while the quantity supplied is 25,000, then
A. the price of hammers is likely to decrease. B. there would be no change in price. C. the market for hammers is in equilibrium. D. the price of hammers is likely to increase.