If Happy Nails and Luxury Nails are two competing nail salons and Happy Nails wants to make a threat to Luxury Nails more credible, they can do all of the following except which one?
A) take action to lower the firm's costs
B) make Luxury Nails aware of Happy Nails' plans
C) keep Luxury Nails in the dark regarding Happy Nails' plans
D) take action to increase the firm's capacity
C) keep Luxury Nails in the dark regarding Happy Nails' plans
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The tragedy of the commons refers to the:
A. overuse of resources that have no price. B. failure of the Coase theorem when negotiation is costly. C. under production of goods that have external benefits. D. overuse of resources that have no cost.
Income expressed in current years dollars is known as
What will be an ideal response?
An MPC value of less than 1.0 indicates that as income increases:
A. Consumption also increases, and by more than the increase in income B. Consumption also increases, and at the same rate as the increase in income C. Consumption will go in the opposite direction and decrease D. Consumption also increases, though not as much as income
Differentiate between principal and time value of money. John invests $100 in a bank for a year. At the end of the year he receives $125. What is the principal and time value of money in this case?
What will be an ideal response?