Designing your products with proprietary technology, is a way to
A) protect intellectual property.
B) increase switching costs for your customers.
C) grandfather in your products.
D) decrease your marginal cost.
B
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How do imports affect buyers' consumer surplus?
What will be an ideal response?
What is the best response of firm A, given firm B is charging a High Price?
a. Charge a low price b. Charge a high price c. Charge zero, give the good away d. All of the above
When the dollar "cost" of a unit of foreign currency falls, the dollar is against the foreign currency.
a. depreciating b. appreciating c. equalizing d. holding its own
The "guns versus butter" dilemma that all nations confront is that
A. An increase in national defense implies more sacrifices of civilian goods and services. B. Guns and butter can be produced using the same resources at the same time. C. An increase in national defense is possible only if we produce more butter. D. All of the choices are correct.