A McDonald's franchise is an example of
A) horizontal integration.
B) quasi-vertical integration.
C) a vertical merger.
D) None of the above.
B
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Gene's Car Wash is a natural monopoly. To wash 100 cars a week, if Gene is unregulated, he would charge a price of $10. Gene's long-run average cost for washing 100 cars is $8, his average variable cost is $6, and his marginal cost is constant at $4
If Gene was regulated using a marginal cost pricing rule, the price he would be allowed to charge to wash 100 cars is A) $10. B) $8. C) $6. D) $4.
Parity pricing refers to
a. a price floor that creates a desired relationship between the prices farmers have to pay for goods they buy and the prices they get for goods they sell b. a price ceiling that creates a desired relationship between the prices farmers have to pay for goods they buy and the prices they get for goods they sell c. the subsidization of farm prices in markets where new technology is adapted d. the government's price intervention to create parity among various farm product prices, such as the price per bushel of corn, wheat, or soybeans e. the government's price intervention to create income equality (or parity) among farms producing identical goods, such as corn or cotton, according to farm size
Refer to the graph shown. The line segment that represents average total costs of producing Q* is:
A. BQ*. B. CQ*. C. AQ*. D. AB.
Which of the following is included in Singapore's GDP?
a. The value of production by a Singaporean working in the U.S. b. The value of production by an American working in Singapore c. The value of production by a Singaporean that crosses the border to work in Malaysia. d. All of the above are correct.