Which of the following can a firm use to reduce competition in the market?
a. Locking in customers to long term contracts
b. Seek an exclusive government contract
c. Acquire patents
d. All the above
d
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According to your authors, the prohibition on alcohol kept the ________ curve relatively stable while the ________ curve became more ________
A) supply; demand; elastic B) supply; demand; inelastic C) demand; supply; elastic D) demand; supply; inelastic
Long distance telephone service has become a competitive market. The average cost per call is $0.05 a minute, and it's declining. The likely reason for the declining price for long distance service is:
a. Governmental pressure to lower the price b. Reduced demand for long distance service c. Entry into this industry pushes prices down d. Lower price for a barrel of crude oil e. Increased cost of providing long distance service
Which of the following would appear on the asset side of a commercial bank balance sheet?
a. Loans. b. Checkable deposits. c. Savings deposits. d. Net worth.
Increasing GDP generally causes increases in problems of waste disposal
a. True b. False Indicate whether the statement is true or false