As the manager of good A, which of the following would be of greatest concern (based on the regression results above)?
A) None of the factors below would be of concern.
B) an impending recession
C) pressure on you by your salespersons to lower the price so that they can boost their sales
D) a price reduction by the makers of good B
C
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Oligopoly differs from perfect competition because a single competitive firm's behavior does not affect the behavior of its competitors while the behavior of a single oligopolistic firm does affect the behavior of its rivals
Indicate whether the statement is true or false
Which of the following is a good indicator of short-term interest rates in international markets?
A) prime rate B) Treasury bill rate C) LIBOR D) Federal funds rate E) none of the above
Choose the statement that is correct.
A. The ability-to-pay principle can justify high fuel taxes to pay for freeways and high taxes on alcoholic beverages and tobacco products to pay for public health care. B. The ability-to-pay principle results in a tax system that is efficient and fair. C. The benefits principle is a fair arrangement because it means that those who benefit most pay the most taxes. D. The benefits principle results in a tax system that is efficient and fair.
Which of the following examples would use the three-step method?
a. Elena wants to determine what the marginal revenues are for her clothing store. b. Ivan wants to find out if his toy store is earning an economic profit. c. Jan wants to determine what the marginal costs are for his sports store. d. Zofia wants to find out if her thrift store is earning more total revenue than a competitor’s store.