A reason why there is more competition among restaurants than among large discount department stores is that restaurants
A) have more elastic demand for their product compared to department stores.
B) unlike department stores, do not have significant economies of scale.
C) unlike department stores, have to abide by government sanitation rules.
D) have to cater to a variety of consumer tastes while department stores do not.
B
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The purchase or building by a corporation of a facility in a foreign country is called
A) foreign direct investment. B) foreign capital depreciation. C) foreign portfolio investment. D) globally-directed investment.
In the Standard Oil antitrust case in 1911, the Court ruled that the:
A. company had to be disbanded. B. company was guilty of unfair business practices and therefore should be broken up. C. company had a monopolistic structure and therefore should be broken up. D. Sherman Antitrust Act did not apply.
Liquidity preference refers to the theory of
A) money demand. B) consumption. C) investment. D) expectations.
Which of the following might be considered an automatic fiscal stabilizer?
A. government budgeting for education B. unemployment compensation C. 401(k) retirement program D. government spending for the war effort