In Ecuador, as a share of a firm's revenue, the cost of bribes is highest for
(a) micro enterprises.
(b) small enterprises.
(c) medium enterprises.
(d) large enterprises.
A
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Every economic decision involves a trade-off because of
A. theory. B. opportunism. C. consumption. D. scarcity. E. efficiency.
Technological advancements and changes in factor proportions shift a producer's comparative advantage
Indicate whether the statement is true or false
Describe the holdout problem with emphasis on how it might lead to resource being allocated inefficiently. Give three private ways to possibly overcome the holdout problem
What will be an ideal response?
A consumer's demand for a product decreases because other consumers own it. This would reflect: a. A bandwagon effect
b. a positive network externality. c. A snob effect. d. none of the above