Firms that sell highly differentiated consumer goods, such as soft drinks, breakfast cereals, and dog food, typically spend what percent of their revenues on advertising?
a. 0-1
b. 2-4
c. 10-20
d. over 50
c
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New Keynesian economists have examined whether real-world prices are, in fact, sticky. In one study of 38 magazines, Stephen Cecchetti found
a. that price rigidity was nonexistent with respect to magazines at newsstands. b. considerable rigidity with respect to the newsstand prices of magazines. c. that most of the 38 magazines in the study had price changes at least once a year. d. that the Readers Digest price was changed 15 times between 1950 and 1980.
Export promotion has been more successful than import substitution
a. True b. False
Which of the following is often called the "Antimerger Act"?
a. Clayton Act. b. Robinson-Patman Act. c. Sherman Antitrust Act. d. Federal Trade Commission Act. e. Celler-Kefauver Act.
How does the monopolist calculate profit per unit, and total profit?