Who operates and controls a corporation in its day-to-day activities?
A) the board of directors
B) stockholders
C) employees
D) management
Answer: D
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How does a positive externality in consumption reduce economic efficiency?
What will be an ideal response?
China linked its exchange rate to the U.S. dollar which meant in the 2004-2007 period
A) it appreciated against most other currencies, hurting its manufacturing competitiveness. B) it depreciated against most other currencies, making its products cheaper. C) it decreased the size of its merchandise trade surplus. D) it overvalued its currency, making it hard to attract foreign investment.
The existence of any consumer surplus in the market suggests that all of the following practices are possible in the market except which one?
A) third-degree price discrimination B) first-degree price discrimination C) second-degree price discrimination D) a single price is charged to all consumers
According to the above table, if the fourth and fifth largest firms in the industry merge, the four-firm concentration ratio in the industry will be
A) 82.5 percent. B) 35.8 percent. C) 69.0 percent. D) 84.1 percent.