Diversification:
A. reduces the likelihood that bad things will happen.
B. means you're not likely going to be completely ruined by a single unfortunate event.
C. increases the likelihood that bad things will happen.
D. None of these statements is true.
B. means you're not likely going to be completely ruined by a single unfortunate event.
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Assume a unit tax of $4 is placed on suppliers. They are able to pass along some of the tax to suppliers as evidenced by prices rising from $5 per unit to $7 per unit. Output declines from 10 units to 8 units
What is the ratio of the demander's share of the tax burden to the suppliers? a. 2.5 b. 2.0 c. 1.5 d. 1.0
Mexico and India have a fairly large number of engineers and technical personnel, which means that new technology can be adapted relatively quickly
a. True b. False Indicate whether the statement is true or false
Under perfect competition
a. the only major difference between firms is the mark-up they use to determine prices b. a single seller sets the price c. a small number of sellers offer a differentiated product d. sellers offer a standardized product e. a small number of buyers and sellers negotiate the market price
If a monopolistically competitive firm's optimal level of output occurs where P < AVC, it will shut down.
Answer the following statement true (T) or false (F)