The MRS of the indifference curves in the above figure
A) equals 1/2.
B) equals 2.
C) changes when moving along any one of the curves.
D) is constant along a particular indifference curve, but changes from one indifference curve to the next.
A
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All of the following represent advantages or disadvantages of independent entry into a foreign market except which one?
A) The managers do not risk divided interests; the managers will make decisions based on the interest of the firm. B) Managers retain total control over operations. C) All profit (or losses) is (are) reserved for the firm. D) Managers immediately gain familiarity with the foreign markets, laws, and traditions.
When a monopolist sells the same product at different prices and the prices are not related to cost differences, we have
A) monopoly pricing. B) marginal cost pricing. C) price discrimination. D) price differentiation.
Almost half of the world lives on less than $____ a day.
Fill in the blank(s) with the appropriate word(s).
What is the difference between a "free" good and a "scarce" good?
What will be an ideal response?