Why does a monopolist not charge the same price for the same good in two different countries?
What will be an ideal response?
The monopolist sets the prices in the two markets such that the marginal revenue in each market equals the common marginal cost of producing the good. If the elasticities of demand differ in the two markets, the producer optimally charges a higher price in the market with the less elastic demand curve.
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What are some potential problems with data collected in another country?
What will be an ideal response?
________ uses large amounts of data with management science techniques and modeling to help managers make decisions
Fill in the blank with correct word.
Milton Friedman is a major proponent of the maximizing profits theory of social responsibility
Indicate whether the statement is true or false
Revenues and contributions of the stockholders in the business increase equity
Indicate whether the statement is true or false