When a new product is introduced in the market, Lenny always wants to see how popular the item becomes before he purchases it. Lenny's behavior is known as
A) overt collusion.
B) limit-pricing.
C) a network effect.
D) price leadership.
C
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Explain and show graphically the effect of an increase in the expected future exchange rate on the equilibrium exchange rate, everything else held constant
What will be an ideal response?
Most firms have very little flexibility in their choice of input proportions
a. True b. False Indicate whether the statement is true or false
If Argentina imposes a 20 percent tax on natural gas exports to be paid by suppliers. Other things equal, this causes the:
A. supply of natural gas exports to shift to the left. B. supply of natural gas exports to shift to the right. C. quantity of natural gas exports produced to increase. D. demand for natural gas exports to shift to the right.
If demand is represented as Qd = 18 - 6P and supply is represented as Qs = 3 + 9P, the equilibrium quantity is
A. 1. B. 4. C. 7. D. 12.