The cost savings from outsourcing often lead to ________ for consumers and ________ for the outsourcing company.
A. lower prices; less output
B. lower prices; more output
C. higher prices; less output
D. higher prices; more output
Answer: B
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Which factor of production is paid "interest"?
A) land B) labor C) capital D) entrepreneurship E) human capital
In many business situations one firm will act first, and then other firms will respond. To help analyze these types of situations economists use
A) follow-the-leader-games. B) sequential games. C) retaliation games. D) bargaining games.
As of the end of 1994, which of the countries in our survey had the largest proportion of stock held by individuals?
A) The United Kingdom B) The United States C) Japan D) Germany
Ray’s Barbecue produces about 200 slabs of barbecued ribs per day. The price that Ray pays for each slab of ribs rises by 10 and the rent on Ray’s restaurant location rises by 5 percent increase. Marginal cost will increase as a result of
A. only the increase in the rent paid by Ray. B. only the increase in the price that Ray pays for slabs of ribs. C. the increase in the rent paid by Ray and the increase in the price of slabs of ribs. D. neither of the increases in the prices.