The more product differentiation in the market, the ________ the firm specific demand curve. The less product differentiation in the market, the ________ the firm specific demand curve.
A. steeper; flatter
B. flatter; steeper
C. more concave; more convex
D. more convex; more concave
Answer: A
You might also like to view...
Per capita GDP can be defined as
A. GDP per employed worker. B. GDP per unit of capital. C. GDP per person. D. GDP per unit of unemployment.
Define the normal rate of return. If a business has fairly steady revenues and the future looks secure, what should the normal rate of return equal? Why?
What will be an ideal response?
A defendant believes there is an 80 percent chance that the plaintiff will win $1,000,000 and a 20 percent chance that the plaintiff will lose and be awarded nothing (zero). The plaintiff believes that there is a 90 percent chance that they will win $1,000,000 and a 10 percent chance that they will be awarded nothing (zero). The plaintiff's litigation cost is $500,000 and the defendant's
litigation cost is $400,000. The defendant would be willing to pay any amount up to ________ to settle. $1,000,000 B) $1,200,000 C) $900,000 D) $800,000
An example of a "missing" market would be:
A. the market to buy and sell children for adoption. B. the market to buy and sell a kidney. C. the market to buy and sell dates for a Friday night. D. All of these markets are missing.