According to the figure shown, if Starbucks expands in the market, then Dunkin Donuts should:
This figure displays the choices being made by two coffee shops: Starbucks and Dunkin Donuts. Both companies are trying to decide whether or not to expand in an area. The area can handle only one of them expanding, and whoever expands will cause the other to lose some business. If they both expand, the market will be saturated, and neither company will do well. The payoffs are the additional profits (or losses) they will earn.
A. also expand their business.
B. not expand.
C. give an ultimatum.
D. None of these statements is true.
B. not expand.
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A long line at the campus bookstore at the beginning of the term is an example of
A) price rationing. B) an ineffective price ceiling. C) a non-price rationing device. D) an ineffective price floor.
The more times a worker performs a particular task, the more proficient the worker becomes at that task. This source of productivity increase is called:
A. continuity. B. innovation. C. specialization. D. repetition.
Refer to the figure shown, which represents the production possibilities frontiers for Countries A and B. One of the reasons why Country A and Country B are not realistic representations of actual countries is:
A. the production possibilities curves are straight lines; realistic ones would be concave. B. they only represent two countries. C. they only represent the production of two goods. D. All of these statements are true.
In economics, the term "investment" refers to the purchase of stocks and bonds.
Answer the following statement true (T) or false (F)