Which of the following is not among Porter's competitive forces?
A) changing consumer tastes B) threat of new entrants
C) power of buyers D) power of suppliers
A
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An increase in available resources will tend to cause a society's production possibilities curve to shift inward
a. True b. False Indicate whether the statement is true or false
If the random walk theory is correct, a prudent investor might choose her stock portfolio by
a. throwing darts at the newspaper's financial page. b. spending money to consult a stock forecaster. c. spending time analyzing past stock performance. d. not investing in stocks at all, since price behavior is completely erratic.
Refer to the accompanying figure. At the equilibrium price, total consumer surplus is:
A. $40 per day. B. $7.50 per day. C. $15 per day. D. $10 per day.
The reason a profit-maximizing natural monopolist cannot set price equal to marginal cost is that it would:
A. then be forced to produce more than it could sell. B. suffer losses since price would be less than average cost. C. earn excessive profits, which would attract new firms into the market. D. then be forced to produce more than the socially optimal level of output.