A price drop increases consumer surplus by allowing purchases already being made to be made at a lower price, allowing current buyers to purchase more goods for the same money, and ______.
a. allowing producers to earn more while selling less
b. preventing buyers from purchasing too much
c. eliminating dishonest producers
d. drawing in new buyers
d. drawing in new buyers
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Managers will use ________ probabilities to estimate the likelihood of a profitable entry into a foreign market.
A) subjective B) objective C) known D) relative
In the long run, a perfectly competitive firm will react to losses by: a. reducing production or shutting down. b. reducing its inputs. c. increasing its output
d. increasing the price of its product.
If the U.S. economy adds to the capital stock, this may require a temporary decrease in the amount of present consumption.
a. true b. false
Consumption + the change in net worth =
A. saving. B. depreciation. C. total assets. D. economic income.