If an oligopolist cuts the prices of its products,
A. customers will switch to a rival firm.
B. customers will remain unchanged in number.
C. customers will switch from rival firms to buy from them.
D. rival firms will not react.
Answer: C
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Among the benefits of privatization of state owned enterprises is
(a) increased employment. (b) improved efficiency. (c) reduced pollution. (d) all of the above. (e) none of the above.
Assume that a one-year Malaysian bond yields 10 percent interest and that the dollar return on maturity is 5 percent. If the exchange rate at maturity is $1 = MYR 4.00 (Malaysian ringgit), what was the exchange rate at the time the bond was purchased?
a. $1 = MYR 4.2 b. $1 = MYR 3.8 c. $1 = MYR 3.6 d. MYR 1 = $0.26 e. MYR 1 = $0.4
According to the signaling view, education
a. has no effect on lifetime earnings. b. alters work ethic. c. enhances productivity. d. is an indicator of natural ability.
Adam Smith
a. and David Ricardo both opposed free trade b. opposed free trade, but David Ricardo supported it c. supported free trade, but David Ricardo opposed it d. and David Ricardo both supported free trade