Market-based management firms do not have structures like headquarters
Indicate whether the statement is true or false
False
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Using the data in the table above, gross domestic product equals
A) $1,920. B) $1,940. C) $2,150. D) $2,400.
Firms that face capacity constraints can only increase output only up to the capacity, but no further. Therefore, firms
a. Should price to capacity as long as MR > MC b. Should price to capacity as long as MR = MC c. Should price to capacity as long as MR < MC d. Should not take capacity into consideration in pricing decisions
Under a floating rate system, exchange rates are determined by supply and demand in the foreign exchange market without government intervention
a. True b. False
There are some special types of goods for which supply cannot change, irrespective of the length of time allowed for change, such as Beethoven symphonies. The price elasticity of supply for these goods is _____
a. infinite b. nonexistent c. negative d. zero e. unity