Economies of scope are present when a bank also sells insurance and provides brokerage services for stocks and bonds.
Answer the following statement true (T) or false (F)
True
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In the current year, the CPI is 122 and during the previous year the CPI was 115. The inflation rate between these years is
A) -5.7 percent. B) -6.1 percent. C) 6.1 percent. D) 5.7 percent. E) 1.61 percent.
Why would a chain store sell some items, such as soda pop, below cost?
A) They are not interested always in maximizing profit. B) They feel people need soda pop more than the other items in the store. C) Pricing some items "below cost" might be an efficient strategy to maximize the store's total profit. D) Because most firms can only enjoy profits by consistently selling all their items below cost.
U.S. job losses cited by anti-trade critics
A. are mostly a short-term problem in isolated industries. B. are mostly due to poor training by U.S. firms. C. affect only capital-intensive U.S. industries. D. are non-existent.
Compared to a monopolistic competitor, a monopolist faces
A) a more elastic demand curve. B) a more inelastic demand curve. C) a more elastic demand curve at higher prices and a more inelastic demand curve at lower prices. D) a demand curve that has a price elasticity coefficient of zero.