Theoretically, a firm can enter an industry with low prices, drive out their competition, and take advantage of their newly-achieved monopoly power to raise prices, but the evidence is that Walmart has
A. never tried to do this.
B. succeeded at doing this.
C. tried to do this and failed for legal reasons.
D. tried to do this and failed for economic reasons.
Answer: A
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The average revenue curve can also be described as the demand curve.
Answer the following statement true (T) or false (F)
Equilibrium in the money market exists when
A) at a given interest rate, excess supply of money is equal to the quantity demanded of money. B) at a given interest rate, excess demand for money is equal to the quantity demanded of money. C) the supply of money curve intersects the demand for money curve at the prevailing interest rate. D) b and c
Which of the following is not a determinant of Investment spending?
A. Real income B. Expected profitability C. Interest rates D. Taxes
Patents are most likely to infringe on innovation:
A. for products that incorporate many different technologies into a single product. B. of simple, easy-to-copy products. C. in the pharmaceutical industry. D. when they cause creative destruction.