When a developing country relies on export promotion,
a. it concentrates on producing for its domestic market
b. it builds its technological and educational base and then can make more complex products for export
c. domestic producers have sufficient protection that they can afford to become inefficient
d. its government must intervene more in markets
e. None of the answers is correct
B
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Why do economies of scale and monopoly power exist with network goods?
A. Many small firms must develop to serve all of the consumers willing to pay for access to the network good, so their costs are driven down. B. Network goods require a group of sellers working together and this cooperation reduces the firms' cost per unit. C. Just as the value of a network good decreases to each user as the total number of users increases, so does the long run average cost decrease as output increases. D. As the number of people connected to a network increases, the greater the benefits each person gets and the smaller the cost per unit to supply.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, Point E necessarily represents
A. only motorcycles being produced. B. overallocation of resources. C. an impossible production point. D. technological advancement.
High interest rates might cause a corporation to ________ building a new plant that would provide more jobs
A) complete B) consider C) postpone D) contemplate
ATC always exceeds AVC
Indicate whether the statement is true or false