Which of the following is considered a durable good?
A) clothing
B) a washing machine
C) medical care
D) food
B
You might also like to view...
__________ trading volume promotes __________ bid-asked spreads
A) Large; wide B) Large; narrow C) Small; narrow D) None of the above.
If Big Dogs, a hot dog producer, purchases delivery trucks to deliver their hot dogs to local grocery stores, this is an example of ________.
A) outsourcing B) forward integration C) backward integration D) divestiture
When the marginal cost of a price-taker firm is more than the market price of its product, the firm should:
a. expand output. b. reduce output. c. maintain output. d. charge more than the market price.
If a monopolist has zero marginal costs, it will produce
a. the output at which total revenue is maximized. b. in the range in which marginal revenue is still increasing. c. at the point at which marginal revenue is at a maximum. d. in the range in which marginal revenue is negative.