One of the limitation of Five Forces is that
a. These tools reduce producer surplus
b. For one firm to increase profit, it takes it from other participants in the industry
c. Does not provide a firm with sustainable competitive advantage
d. Both b and c
b
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State mechanic lien laws
(a) required licensing of mechanics. (b) permitted laborers to make claims against the assets of an employer or business if it fell into bankruptcy. (c) assured payment for value added by labor to property of third parties. (d) gave property owners with goods held "in bailkment" a guarantee of competent repair work by mechanics.
A stronger dollar benefits American
A. workers. B. consumers. C. businesses. D. commodity market speculators.
On a Phillips curve diagram, a decrease in the rate of inflation, other things being equal, is represented by a(n):
A. upward shift of the Phillips curve. B. downward movement along Phillips curve. C. upward movement along the Phillips curve. D. downward shift of the Phillips curve.
Which of the following would not affect an individual's demand?
A. The costs of inputs B. The individual's income C. The individual's preferences D. Prices of related goods