Which of the following countries has had the more successful transition?
a. Poland
b. Russia
c. Kazakstan
d. Georgia
e. Kyrgystan
A
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A major problem of owning a corporation is unlimited liability.
Answer the following statement true (T) or false (F)
If C = 900 + 0.3Y, then autonomous expenditure is:
(a) 900. (b) 300. (c) 1200. (d) None of the above.
Theoretically, profit maximization occurs at P* and q* in the short run. However, empirical work suggests that oligopolists often actually charge P 1 . Which deterrence strategy best incorporates this action?
a. The oligopolist maintains P* until the threat of entry subsides, then lowers the price to
P 1 .
b. The oligopolist maintains P1 until the threat of entry subsides, then keeps the price at
P 1 .
c. After the threat of entry subsides, the oligopolist lowers the price below P 1 .
d. After the threat of entry subsides, the oligopolist raises the price to the profit-
maximizing price.
Refer to the graph below with three demand curves. An increase in price, other factors constant, would cause a change from:
A. Point 4 to point 5
B. Point 3 to point 6
C. Point 1 to point 5
D. Point 2 to point 4