The demand curve faced by an oligopolistic producer depends on how rival firms react to its prices and policies
a. True
b. False
Indicate whether the statement is true or false
True
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For a nation's real GDP per capita to rise during a year,
A. population must increase more rapidly than real GDP. B. real GDP must increase more rapidly than population. C. investment spending must increase. D. consumption spending must increase.
A product's price elasticity of demand is likely to be greater
A) if it only has a few substitutes. B) if consumers spend a small proportion of income on the product. C) the less time consumers have to adjust to price changes. D) if the product is a luxury good rather than a necessity. E) Both answers C and D are correct.
An example of a horizontal merger would be a merger between firms
A) approximately the same size. B) growing at approximately the same rate. C) located in the same geographic area. D) selling approximately the same products. E) supplying one another with inputs.
If coal is extracted in an unsustainable manner in the current period, the price for steel is likely to increase in future
a. True b. False Indicate whether the statement is true or false