A situation in which one firm's actions with respect to price, quality, advertising and related changes may be strategically countered by the reactions of one or more other firms in the industry is known as
A) strategic dependence.
B) economies of scale.
C) the concentration ratio.
D) barriers to entry.
Answer: A
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The table above shows the total utility from the two goods Freddy likes to consume. If Freddy has consumed 4 fruit drinks and then decides to drink another
A) his total utility will increase. B) the marginal utility from the 5th drink equals 30. C) the marginal utility from the 5th drinks equals 50. D) Both answers A and B are correct.
The pricing technique known as tying
A) permits a firm to meter demand. B) permits a firm to practice price discrimination. C) enables a firm to extend its monopoly power to new markets. D) all of the above
A change in the tax laws that increases the supply of loanable funds will have a smaller effect on investment when
a. the demand for loanable funds is more elastic and the supply of loanable funds is more inelastic. b. the demand for loanable funds is more inelastic and the supply of loanable funds is more elastic. c. both the demand for and supply of loanable funds are more elastic. d. both the demand for and supply of loanable funds are more inelastic.
When marginal utility of consuming a good is zero, total utility is:
A. zero. B. decreasing. C. increasing. D. at its maximum.