When a grocery store offers discount coupons in Sunday papers, it is trying to
a. Price discriminate
b. Undercut its competition
c. Reward the frequent readers
d. Provide a social service
a
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If Chinese consumers want to buy US goods, they will
a. Buy Yuan and sell US Dollars b. Sell Yuan and buy US Dollars c. Neither buy nor sell Yuan d. Neither buy nor sell dollars
In a foreign exchange market diagram with pesos per dollar on the vertical axis, the quantity of __________ would be on the horizontal axis, and the U.S. demand for Mexican goods would help to determine the __________ curve
A) dollars; demand B) dollars; supply C) pesos; demand D) pesos; supply
Price leadership represents a situation where oligopolistic firms:
A. conspire to form a cartel. B. informally collude. C. face a kinked-demand curve. D. reduce their reliance on nonprice competition.
Suppose a perfectly competitive firm can increase its profits by increasing its output. Then it must be true that the firm's:
a. marginal cost exceeds its marginal revenue. b. price exceeds its average variable cost but is less than average total cost. c. marginal revenue exceeds its marginal cost. d. price exceeds its marginal revenue.