A market which firms can enter if they choose and exit without losing money invested is
a. pure monopoly.
b. duopoly.
c. contestable.
d. a market where there are kinked demand curves.
c
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Acme Brands invested $5 million in 2010 on new equipment, spent $750 thousand to increase its inventory of intermediate components, and added $25 thousand to its inventory of finished goods
At year's end, the components inventory is found to be $200 thousand above its beginning-of-the- year level, and finished goods inventory is up $30 thousand over its starting level. Calculate planned investment, unplanned investment, and actual (total) investment.
If you buy an insurance policy with a low deductible and no co-payments, you would end up paying
a. A higher premium b. A lower premium c. The premium of a low risk individual d. Both B&C
Julia knows the price elasticity of movie rentals is 3 . She knows, therefore, that if she raises her price from $2 to $2.50, her rentals will drop by approximately
a. 150 percent. b. 100 percent. c. 75 percent. d. 33 percent.
Answer the following statement(s) true (T) or false (F)
1. Footballs and football helmets are considered to be complements. 2. Other things held equal, rising income usually leads to a leftward shift of the demand curve. 3. The vital statistics of the potential consumer population include size, race, income, and age characteristics. 4. Higher prices for a good or service provide incentives for producers to make or sell less of it.