A common contractual precommitment strategy is ________.
A) a meet-or-release clause
B) price visibility
C) a most-favored-customer clause
D) a meet-the-competition clause
C) a most-favored-customer clause
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According to the real business cycle model, a rightward shift in the long-run aggregate supply schedule would be caused by ________
A) a negative supply shock B) an increase in aggregate demand C) a positive supply shock D) a decrease in aggregate demand
In the Cournot duopoly model, each of the two firms, in determining its profit-maximizing price-output level, assumes that the other firm's ____ will not change
a. price b. output c. marketing strategy d. inventory e. none of the above
Embargoes are more likely to be effective when
A. a small county imposes an embargo on a large country. B. the embargo is sudden and comprehensive when first imposed. C. the demand for imports by the target country is relatively elastic. D. the supply curve of the embargoing country is highly inelastic.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point D to Point B, the opportunity cost of hybrid cars, measured in terms of motorcycles,
A. initially increases, then decreases. B. increases. C. remains constant. D. decreases.