In the Stackelberg leadership model,
a. the leader earns a larger profit compared to the follower.
b. the leader charges a higher price for its output compared to the follower.
c. the follower produces a larger output compared to the leader.
d. the follower charges a lower price for its output compared to the leader.
A
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From the highest percentage to the lowest percentage, the percentage of revenues earned by businesses in the United States is represented by which of the following?
A) corporations, partnerships, sole proprietorships B) partnerships, corporations, sole proprietorships C) sole proprietorships, partnerships, corporations D) corporations, sole proprietorships, partnerships
Suppose there are 100 people with identical demand curves. When the price of a movie ticket is $8, the quantity demanded by each person is 5 tickets. When the price is $4, the quantity demanded by each person is 9 tickets. Which of the following is the most likely quantity demanded for the market as a whole when the price is $6?
a. 700 b. 1,200 c. 400 d. 1,000 e. 100
If the government establishes a price floor for agricultural products, then
A) consumers will pay a lower price for the products. B) consumers will increase the quantity that they are willing to consume. C) farmers will want to decrease their production. D) the government will need to purchase the resulting surplus. E) all of the above
Refer to the information provided in Figure 28.1 below to answer the question(s) that follow.
Figure 28.1Refer to Figure 28.1. At wage rate $6, there is a ________ of labor equal to ________ million people.
A. shortage; 180 B. surplus; 180 C. surplus; 60 D. shortage; 60