A television station reports that the price of coffee has increased but the quantity sold in the market has decreased. This situation would be caused by a(n):
a. Decrease in supply
b. Decrease in demand
c. Increase in demand
d. Increase in supply
a. Decrease in supply
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If the share of population employed in two countries is the same, average living standards will be higher in the country with:
A. lower average labor productivity. B. higher average labor productivity. C. the smaller population. D. the larger population.
Supplier power tends to be low when
a. Suppliers are less concentrated b. Inputs provided by the supplier are not vital c. Inputs are less differentiated d. All the above
The essence of competitive strategy includes which of these?
a. management-based capabilities b. resource=based capabilities c. business processes d. adaptive innovation e. a, b & c f. b, c & d Indicate whether the statement is true or false
Governments seeking to maximize total tax revenue will place unit taxes on goods with the
a. b and c b. lowest income elasticity c. highest cross elasticity d. lowest price elasticity e. fewest complements