In the market for professional basketball,
a. pro basketball teams are the suppliers and pro basketball players are the demanders
b. pro basketball players are the suppliers and basketball fans are the demanders
c. pro basketball players are the suppliers and pro basketball teams are the demanders
d. pro basketball teams are the suppliers and basketball fans are the demanders
e. basketball fans are the suppliers and pro basketball teams are the demanders
D
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Retailers do not find it profitable to engage in promotional activities because
a. They reap the full benefits of the promotion b. They have to share the benefits of the promotion with the manufacturer c. They are unaware of competing retailers' ability to "free ride" on their efforts d. All of the above
When a worker announces that he plans to quit, say next month, the "threat" of being fired has no bite. The worker may find it in his interest to shirk. What can the manager do to overcome this problem?
A. Pay the worker some rewards when he announces his plan to quit. B. Fire the worker as soon as he announces his plans to quit. C. Provide the worker some rewards for good work that extend beyond the termination of employment with your firm. D. Monitor the worker more often than usual and fire him when he is caught shirking.
If a market is contestable, then
A. long-run economic profits are minimal due to inefficiency. B. long-run economic profits are zero. C. short-run and long-run economic profits are zero. D. positive economic profits are maximized due to the efficient production spurred by the threat of entry.
If citizens of a country are not saving much, it is better to
a. force citizens to save. b. reduce investment. c. have foreigners invest in the domestic economy than no one at all. d. prevent opportunities for citizens to buy capital assets abroad.