The amount of a product that people are willing and able to purchase at a specific price is referred to as the:
a. demand.
b. quantity demanded.
c. law of demand.
d. consumption function.
e. purchasing power.
b
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In which market structure is it not possible to practice price discrimination?
A) oligopoly B) monopolistic competition C) monopoly D) perfect competition
When a company is faced by a kinked demand curve, the marginal revenue curve
A) will be upward sloping. B) will be horizontal. C) will always be zero at the quantity produced. D) will be discontinuous.
Which of the following is (are) a guideline(s) to be used in the estimation of cash flows?
a. cash flows should be measured on an incremental basis b. cash flows should be measured on an after-tax basis c. all the indirect effects of the project should be included d. all of the above e. none of the above
Which of the following is not considered a barrier to entry?
a. economies of scale b. patents c. control of a scarce resource d. licensing e. perfect price discrimination