Which of the following firms is most likely a price leader in an oligopolistic industry?
a. Firm A controls 15 percent of the market for automobiles.
b. Firm B accounts for 10 percent of total wheat sales.
c. Firm C controls 65 percent of the market for heavy machinery.
d. Firm D accounts for 12 percent of the fast food market.
c. Firm C controls 65 percent of the market for heavy machinery.
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Answer the following statement(s) true (T) or false (F)
1. If a consumer demands the same (positive) amount of a good no matter what their income, then the income elasticity is also positive. 2. Normal goods have income elasticities greater than 1, while inferior goods have income elasticities less 3. Estimates of the price elasticity of demand depend, in part, on the units used to measure price and 4. The cross elasticity of demand will be positive when goods are substitutes and negative when goods are complements.
As owner of a one-third share of a partnership, Josh is legally liable for
A) none of its debts. B) one-third of its debts. C) all of its debts. D) all of its taxes but none of its private debt.
How does adverse selection affect the participation of small- and medium-sized firms in the stock market?
What will be an ideal response?
Like Franklin D. Roosevelt (1933–45), William J. Clinton's (1993–2001) deficit-reducing tax hikes pushed the economy into a recession
Indicate whether the statement is true or false