To decrease buyer power, the firm can
a. Differentiate its product
b. Decrease dependency on a single buyer
c. Sell its products in locations with multiple buyers
d. All of the above
d
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Describe the relationship between aggregate planned expenditure, real GDP, and unplanned inventory changes
What will be an ideal response?
Which of the following statements best describes the production and allocation of resources after the United States entered World War II?
a. Government spending as a percentage of GNP during this period never exceeded the maximum level at the height of the Depression under Roosevelt's New Deal policies. b. Production shifted out closer to the production possibilities frontier, primarily as a result of technical change. c. Production shifted out toward the production possibilities frontier, primarily as a result of underutilized resources being utilized. d. Greater production of goods to support the war involved nominally higher incidents of disabling injuries in the workplace, yet not increases in the rates of disabling injuries.
Which of the following shifts, ceteris paribus, will cause lower rates of both unemployment and inflation?
A. A decrease in aggregate supply. B. An increase in aggregate supply. C. A decrease in aggregate demand. D. An increase in aggregate demand.
If your income increases from $40,000 to $48,000 and your consumption increases from $35,000 to $39,000, your marginal propensity to consume (MPC) is:
A. 0.20. B. 0.40. C. 0.50. D. 0.80.