A matrix form of organization is equivalent to a U-form which is found in the service industry
Indicate whether the statement is true or false
False
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During the production process Ajax Corporation releases pollution into the air. Ajax Corporation operates in a monopolistic competitive industry. Which of the following statements addresses the pollution situation?
A. This is an example of a market failure and is a reason for the government to regulate the industry. B. This is known as the lemons problem. C. Ajax is taking advantage of asymmetric information. D. The quality of the product could be improved if the amount of pollution can be reduced.
Which of the following statements is inconsistent with an elastic demand curve?
A. The price-elasticity coefficient is less than 1 B. Total revenues fall when prices rise C. Buyers are relatively sensitive to price changes D. The relative change in quantity exceeds the relative change in price
Refer to the total revenue graph below. Demand is price-elastic between points:
A. A and B
B. D and E
C. F and G
D. G and H
Which type of barrier to entry allows an electric company to maintain a monopoly over the production of electricity?
A. economies of scale B. diseconomies of scale C. ownership of a scarce factor of production D. a patent