The existence of interdependence among firms in an oligopoly market
A. allows the analysis of the market through standard approaches.
B. results in a monopoly outcome under virtually all circumstances.
C. increases entry into the market.
D. results in a great deal of difficulty in analyzing the behavior of firms.
Answer: D
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If ranchers in Texas fear a sharp drop in cattle prices next year, they will probably
A) bring less cattle to market this year. B) bring more cattle to market this year. C) keep supply unchanged now and bring more cattle to market next year. D) keep supply unchanged now and bring less cattle to market next year. E) do none of the above.
Which of the following statements is TRUE for the U.S.?
A) The Federal Deposit Insurance Corporation (FDIC) insures bank deposits against losses up to $250,000. B) The Federal Deposit Insurance Corporation (FDIC) insures bank deposits against losses up to $100,000. C) The Federal Deposit Insurance Corporation (FDIC) insures bank deposits against losses up to $10,000. D) The Federal Deposit Insurance Corporation (FDIC) insures bank deposits against natural disaster up to $100,000. E) The Federal Deposit Insurance Corporation (FDIC) insures bank deposits against floods up to $100,000.
When disposable income is 2500, induced consumption is
A. -500.
B. 0.
C. 500.
D. 1000.
Which of the following is FALSE?
a. To reduce cannibalization among products, reposition a product so that it does not directly compete with the other b. After acquiring a substitute product, raise prices on both the products c. After acquiring a complementary product, raise prices on both the products d. All of the above