The North American Free Trade Agreement affects trade between
a. the United States, Cuba, and Brazil
b. the United States, Canada, and Mexico
c. the United States, Puerto Rico, and Cuba
d. Brazil, Bolivia, Peru, and Columbia
e. China and the United States
B
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Externalities are direct benefits or costs accruing to individuals or groups of individuals who were not participants in the activity.
Answer the following statement true (T) or false (F)
As the number of firms increases in a market, the differences between the Cournot, Stackelberg, and price-taking market structures
A) decreases. B) increases. C) remains the same. D) cannot be determined.
A manager in charge of new product development can hire engineers and market researchers. The annual salary of an engineer is $40,000 while a market researcher receives $20,000. The marginal contribution of engineers and market researchers are:
Based on the above information, if the manager has an annual budget of $140,000 and currently is hiring two engineers and three market researchers, then
A. he is making the correct decision because the last market researcher hired was more productive than the last engineer hired. B. the last dollar spent on an engineer yielded more new products than the last dollar spent on a market researcher. C. he is making the correct decision because engineers make more than market researchers. D. the last dollar spent on a market researcher yielded more new products than the last dollar spent on an engineer.
Suppose the Tidy Laundry Detergent Company, which sells 40% of all detergent, is thinking about raising its price. Before Tidy makes the change, they analyze the likely responses of the All-Clean Detergent Company, which sells 35% of all detergent, and Cheerful Detergent Company, which sells 20% of all detergent. Tidy's behavior shows
A. mutual interdependence in pricing decisions. B. nonprice competition. C. difficult entry in oligopolies. D. collusion.