An economic consultant recently reported to Sam Snerd that the cross-price elasticity between his product and another firm's scooters is 4.5 . From this information Sam can conclude that

a. his firm's market is smaller
b. his firm is a monopolist
c. his firm's product has few substitutes
d. there is at least one other firm in his relevant market
e. scooters are complimentary to his firm's product


D

Economics

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Indicate whether the statement is true or false

Economics

The economy of the former Soviet Union is best described as a

a. primitive economy. b. market economy. c. hybrid economy. d. centrally-planned economy.

Economics

Transfer payments are the ______ and the ______ growing category of federal spending.

a. smallest; slowest b. smallest; most consistently c. largest; most erratically d. largest; fastest

Economics

An arrangement between firms whereby decision-making is controlled by a board of trustees is known as:

A. a trust. B. a compact between industry and government. C. predatory pricing. D. a merger.

Economics