Predatory pricing:
A. is an aggressive business move to maintain market power.
B. was used by DeBeers to maintain control over the diamond market.
C. is when a firm intimidates others to maintain the high prices the largest firms set.
D. All of these statements are true.
A. is an aggressive business move to maintain market power.
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Continuous increase in investment in which of the following is most likely to cause sustained growth?
A) Capital B) Technology C) Land D) Labor
Marginal cost is best defined as
A) the extra cost of producing one more unit of output. B) the profit earned from selling one more unit of output. C) the price received from selling one more unit of output. D) equal to producer surplus.
As the price of land decreases along its demand curve, the relative price of land
a. increases because the prices of other resources have also decreased b. decreases because the prices of other resources have also decreased c. increases because the prices of other resources have increased d. decreases because the prices of other resources are held constant e. remains constant because the prices of other resources also increase
Aggregate supply can be thought of as
A. a fixed amount of output. B. unrelated to the price level. C. a schedule of output at different price levels. D. the volume of goods at the ends of the production possibilities curve.