The De Beers Company blocked competition
A) in the diamond market by controlling the output of most of the world's diamond mines.
B) by controlling the supply of most of the world's high-quality bauxite, the mineral used to produce aluminum.
C) in the market for fresh and frozen cranberries because it controls about 80 percent of the cranberry crop.
D) because it has lower production costs than other department stores due to economies of scale.
Answer: A
You might also like to view...
Assume that the full-employment level of output is $1,000 and the price level associated with full-employment output is 100. Also assume that the economy's current level of output is $1,100 and, at the price level of 100, current aggregate demand is $1,200. If the government wants to move the economy back to the full-employment level of output and the MPC is 0.75, then it should
A. reduce government purchases by $100. B. reduce government purchases by $200. C. reduce government purchases by $50. D. reduce government purchases by $25.
What is another term meaning the degree of operating leverage?
a. The measure of the importance of fixed cost. b. The operating profit elasticity. c. The measure of business risk. d. D.O.L. e. All of the above.
The City Symphony presents three open-air concerts in the city park pavilion during the spring and summer. Many who attend make donations for symphony expenses, but the donation is not required. Some who attend make no contributions. Economists would
a. classify the noncontributors as detrimental externalities. b. call the concerts excludable events. c. call the noncontributors free riders. d. call the concerts depletable goods.
Suppose the interest rate is 5% and that you are to receive three annual payments of $10,000, with the first payment one year from now, the second payment two years from now, and the third payment three years from now. What is the present value of this stream of payments?