Mutual interdependence means that a firm's
A. profits are affected by another firms' entry or exit.
B. behavior is affected by other firms' actions.
C. costs are affected by other firms' costs.
D. revenues are affected by another firms' demand for its product.
Answer: B
You might also like to view...
If the United States imposed higher tariffs and more restrictive quotas that reduced imports,
What will be an ideal response?
Q: How many economists does it take to change a light bulb? A: All. Because then you will generate employment, more consumption, moving the aggregate demand curve to the right. This joke represents the view of
A) classical economists. B) Keynesian economists. C) economists who contend that money illusion never occurs. D) economists who conclude that wages and prices are very flexible.
Ceteris paribus, expanding loans made by the commercial banking system: a. changes the composition, but not the magnitude, of the money supply. b. decreases the money supply
c. increases the money supply. d. would help to stabilize an economy experiencing rapid inflation.
A nondiscriminating pure monopoly is generally viewed as being ________.
A. productively efficient, but not allocatively efficient B. both productively and allocatively efficient C. allocatively efficient, but not productively efficient D. neither productively nor allocatively efficient