What caused the decline in demand for red delicious apples?
A. Consumers found them to be tasteless.
B. More varieties to choose from.
C. Transportation issues.
D. Genetic manipulation scared consumers.
Answer: A
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During the 1980s, Harley-Davidson, the American motorcycle maker asked Congress for tariff protection from large motorcycles imported from Japan
Harley-Davidson argued that their company needed protection so the company could reorganize and, after some time had passed, could become more competitive. Harley-Davidson's argument is similar to the ________ argument for protection. A) anti-dumping B) save domestic jobs C) infant-industry D) national security E) bring diversity and stability
If a monopolist is producing the quantity at which price equals marginal cost, it should
A) continue to produce this amount if it wants to maximize profits. B) reduce output if it wants to maximize profits. C) reduce price and keep output unchanged if it wants to maximize profits. D) increase output if it wants to maximize profits.
Suppose there are 11 buyers and 11 sellers, each willing to buy or sell one unit of a good, with values {$14, $13, $12, $11, $10, $9, $8, $7, $6, $5, $4,}. Assume no transaction costs and a competitive market. At the optimal bid-ask spread, how many transactions would the market maker undertake in this market
a. two transacttions b. three transactions c. four transactions d. five transactions
The principle of backward induction proves that in price-fixing oligopoly games:
a. the players honor the agreement if the game is repeated. b. the players honor the agreement if the game is played five times. c. the players dishonor the agreement if the game is not played more than twice. d. the players dishonor the agreement if the game is repeated a number of times, as determined prior to the start of play.