Which of the following is a unique characteristic of the oligopolistic market structure?
a. low barriers to entry
b. a large number of firms
c. product differentiation
d. mutual interdependence among firms
d
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The optimal level of military expenditures is the level at which _____
a. a country is completely protected from foreign invasion b. a country spends more on national defense than all other countries along it to win an arms race c. a country spends more on national than its rivals d. the marginal benefit of additional expenditures equals marginal cost
A decreasing-cost industry has a downward-sloping
A) long-run average cost curve. B) long-run marginal cost curve. C) short-run average cost curve. D) short-run marginal cost curve. E) long-run industry supply curve.
A _____ between a parent company and the operator of a local outlet specifies each party's duties and the structure of payments that link them, and can turn the combined organization into a stronger competitor
a. volumetric interdependence b. franchise contract c. joint venture d. buy-sell transaction
A U.S. automobile dealer has ordered a fleet of Japanese cars worth 10 million yen. The terms of payment is C.O.D. (cash on delivery). At the time the order was placed, the exchange rate was 100 yen per U.S. dollar. When the fleet arrived the exchange rate had become 200 yen per U.S. dollar.
A. This change in the foreign exchange rate will benefit the Japanese exporter. B. This change in the foreign exchange rate will benefit the U.S. importer. C. This change in the foreign exchange rate will hurt the Japanese exporter. D. This change in the foreign exchange rate will hurt the U.S. importer.