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1. Which group has the ability to influence business behavior?
a. Consumers.
b. Community activists.
c. Workers.
d. All of the above.
2. Firms that have market power:
a. behave competitively.
b. have some control over the market price.
c. create a more equitable distribution of income.
3. The social contract that a business has with society:
a. Is legally binding.
b. Is required by the government.
c. Suggests that businesses have a moral obligation to benefit other stakeholder groups.
4. Monopoly violates which assumptions of the competitive market model?
a. That consumers have choice.
b. That firms have little or no pricing power.
c. That entry by new firms is relatively easy.
Which environmental protection equipment alternative should be selected? The firm MARR is 20% per year. Assume the equipment will be needed indefinitely. Assume the study period is shortened to five years. The market value of alternative B after five..
Raise or Lower Tuition? Suppose that, in an attempt to raise more revenue, Nobody State University increases its tuition. Will this necessarily result in more revenue?
At what level of output are total profit maximized. Illustrate what price will be charged.
If the government imposes a quantity tax on the consumption of a good, it means that the consumer has to pay for each unit of the good its price plus the tax. Denote by t the amount of dollars a consumer has to pay for every unity she consumes in exc..
Suppose that for a firm that digs ditches for laying cable or pipeline, backhoes and backhoe operators are pure complements in production, being used on a one-for-one basis. Draw the isoquants (on a graph with backhoe, “K”, and backhoe operators, “E”..
How is an investor's choice of which security to purchase related to his degree of risk aversion?
Which statement best exemplifies feminist theory?
Increasingly, a key goal of marketing is to develop deep, enduring relationships with all people or organizations that could directly or indirectly affect the success of the firm’s marketing activities. Discuss the merits of relationship marketing. D..
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q1. clarify how immigration between two countries could be an equalizer of wages as well as economical for both sending
Define the 3 types of price discrimination and explain why 1st degree discrimination is very difficult to practice. Provide 1 example where a form of 1st degree discrimination is practiced.
A local utility finds that when the price of natural gas (dollars per mcf) is 3.52 the average household uses 4.17 mcf. Further, when the price is 4.65 an average household uses 3.65 mcf. Calculate the slope of a linear function that describes this r..
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