For a monopolist, the price of the product
A. always equals the marginal revenue.
B. is always less than the marginal revenue.
C. exceeds the marginal revenue.
D. always equals the marginal cost of the product.
C. exceeds the marginal revenue.
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Before Walmart's entry into the retail pharmacy business which drove down prices, existing pharmacies
a. were operating efficiently, so this is an example of predatory pricing. b. were colluding on price, so this is an example of a contestable market. c. were not operating as efficiently as afterwards, so this is not a case of predatory pricing. d. did not advertise but were forced to do so by the new competition.
Refer to the above figure. The rightward shift of the curve could have been caused by
A) a technological improvement. B) a technological setback. C) an increase in income. D) a decrease in income.
All of the following can cause conflict between divisions EXCEPT
a. Divisional managers are rewarded on the profitability of the firm, instead of profitability of the division b. managers of profit centers care too little about the effects of their decisions on other divisions c. managers are rewarded only for how much profit their division generates d. corporate executives cannot tell when one divisional manager's decisions are appropriate or not
The era of free agency dawned in major sports in
A. 1985. B. 1977. C. 1998. D. 1946.