The De Beers Company blocked competition
A) by controlling the supply of most of the world's high-quality bauxite, the mineral used to produce aluminum.
B) in the diamond market by controlling the output of most of the world's diamond mines.
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.
B
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Researchers at the Federal Reserve found that M2 money demand functions performed ________ in the 1980s, with M2 velocity moving ________ with the opportunity cost of holding M2
A) poorly; erratically B) poorly; closely C) well; erratically D) well; closely
Tariff accounts for 32% of the total government revenue in the U.K. and only 1.2% in India
a. True b. False Indicate whether the statement is true or false
Selling at a price that is only slightly above the firm’s cost of production is called predatory pricing.
Answer the following statement true (T) or false (F)
What is a union shop?
a. Only active union members can be hired. b. New employees must join the union after hire. c. Featherbedding adds unneeded workers. d. The employees have created their own union.