Briefly describe the business practice of tying
Tying is the practice of bundling products together so that the consumer cannot buy them separately.
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If there are only three firms in an industry with 50 percent, 40 percent, and 10 percent of the market, respectively, the Herfindahl Index is
a. 40 b. 100 c. 200 d. 33 e. 4,200
One way the government can enhance efficiency through the management of common resources is by:
A. banning the good. B. setting quotas for the good. C. government provision of the good. D. All of these can be effective and efficiency-enhancing solutions.
If Sabrina exchanges dollars for Japanese yen, she
a. causes the balance of payments to become unbalanced, in the short run b. engages in arbitrage c. supplies yen on the foreign exchange market d. supplies dollars on the foreign exchange market e. first demands dollars then uses them to buy Japanese goods which can be converted into yen
Unequal distribution of resources is one of the main reasons for international trade
a. True b. False Indicate whether the statement is true or false