In Figure 1.9 the slope of the line is
A. Equal to zero at all points.
B. The same at points J and K.
C. Greater at point M than point L.
D. Greater at point K than point L.
Answer: C
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Rank the following goods from least to most elastic: Christian books, religious books, the Bible
A) Christian books, religious books, the Bible B) Religious books, Christian books, the Bible C) The Bible, Christian books, religious books D) The Bible, religious books, Christian books E) None of the above.
The features of the U-Form of firm organization are
a. workers can easily develop a high degree of functional expertise b. it is difficult for employees to share information across positions within a division c. employee evaluation is hampered by managers having different skill sets than workers d. coordination across divisions is simple and does not take much management time
United Parcel Service and other parcel post carriers have expanded in part because
a. the U.S. Postal Service licensed them the right to deliver first-class mail b. Congress gave patents to these companies c. the U.S. Postal Service does not have a monopoly on all types of mail d. the telephone has replaced the letter as a means of correspondence e. Congress has all but eliminated funding for the U.S. Postal Service
If you own the only bookstore in a small town, do you have a monopoly?
What will be an ideal response?