Capital Resources
What will be an ideal response?
Man-mad such as buildings, equipment
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Which of the following is a defining characteristic of a perfectly competitive market?
A) advertisements by well-known celebrities B) persistent economic profits in the long run C) no restrictions on entry into the industry D) higher prices being charged for certain name brands
If production displays increasing marginal returns, then
A) the firm must be adding new capital to keep boosting productivity. B) each new worker hired adds more to output than previous hires. C) total product reaches a maximum sooner than if production displayed decreasing returns. D) total product rises by a constant amount throughout.
A “specialist” is a
A. stockholder who finds buyers and sellers for specific stocks, but also operates outside of specific stock markets. B. person who works on the floor of the New York Stock Exchange and specializes in certain stocks. C. stockbroker who operates only in a particular regional stock market. D. stockbroker who specializes in the “third market.”
Firms can practice indirect price discrimination by
a. Offering volume discounts b. Using two-part pricing c. Offering a bundle containing a number of units d. All of the above