Puma's share of the athletic shoe market is 30% The own price elasticity of demand for Puma athletic shoes is 2.5 . What would be the own price elasticity of athletic shoes as a whole?
a. 8.3
b. 0.75
c. 0.54
d. 1.5
b
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If consumption is defined as C = 2,400 + 0.9Y, then the marginal propensity to consume is 0.9
Indicate whether the statement is true or false
When a firm divests itself of an unrelated business to focus on it core competency, the firm is
A) using economies of scope to cut costs. B) downsizing. C) outsourcing. D) market sharing.
A "devaluation" occurs when
A) the official price of a currency is raised. B) the official price of a currency is lowered. C) a nation's currency depreciates under a flexible exchange rate system. D) a nation's currency appreciates under a flexible exchange rate system. E) none of the above
Which of the following is an important aspect of rational self-interest?
a. considering future costs b. considering past costs c. considering future causes d. considering past causes