The Ford Taurus and Ford Escort product lines (both produced by Ford) use many of the same parts in their cars, and the cars are, apart from design, virtually identical to one another, except for price. This suggests
a. a balanced oligopoly
b. cartel pricing
c. Ford's production inefficiency
d. game theory pricing
e. price discrimination
E
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Refer to Figure 1.7. This economy will achieve efficiency in production at
A. Point D only. B. Point J only. C. Points D, G, and J. D. Point G only.
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a) increase the supply b) increase the quantity supplied c) decrease the quantity supplied d) decrease the supply
A sole proprietorship is the type of business that has ________ government rules and regulations affecting it
A) only federal B) the fewest C) the most D) no
What is the best measure of the value of output of an economy?
A. GDP B. GNP C. NNP D. the GDP deflator