Refer to Table 14-4. If Alistair assumes that Baine would increase its advertising budget, what should it do?
A) Alistair should not change its advertising budget.
B) Alistair should keep its own budget the same and allow Baine to incur the higher cost.
C) Being a duopolist, Alistair is not affected by Baine's choices because it has a secure 50 percent market share.
D) Alistair should also increase its advertising budget.
D
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When the natural unemployment rate ________, the short-run Phillips curve shifts ________ and the long-run Phillips curve shifts ________
A) increases; rightward; rightward B) increases; rightward; leftward C) decreases; rightward; rightward D) decreases; leftward; rightward E) increases; leftward; leftward
A.H. Phillips developed the Phillips curve concept by looking at the relationship between: a. inflation and unemployment
b. wages and employment. c. wage inflation and monetary policy. d. inflation and output.
Other things equal, the optimal quantity of immigrants will be greater, the:
A. higher the unemployment rate in the destination nation. B. greater the degree of substitutability between immigrant and domestic-born workers. C. greater the degree of complementarity between immigrant and domestic-born workers. D. lower the rate at which immigrants can be absorbed.
Refer to the diagram. A price of $60 in this market will result in:
A. equilibrium.
B. a shortage of 50 units.
C. a surplus of 50 units.
D. a surplus of 100 units.