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1. Which of the following is NOT a characteristic of a perfectly competitive market?
a. It is difficult for a firm to enter or leave the market.
b. Each firm is a price taker.
c. There are many buyers and sellers in the market.
d. The products sold by the firms in the market are homogeneous.
2. A market failure is a situation in which:
a. the market equilibrium leads to either too many or too few resources going towards producing the good or service.
b. resources are being efficiently allocated, but some companies are forced to shut down.
c. the government must take actions to correct the failures of the market in a particular industry.
d. there is no free entry or exit into an industry.
Suppose the Federal Reserve is considering the applications of four different banks to merge with other banks. Given the level of the new HHI and the change in the HHI shown below, in which case could the Fed challenge the merger?
Graph a short run situation where a large-market team has lower profits at its profit maximizing level of attendance than a small-market team has at its profit maximizing level of attendance. In your graph, be sure to identify the profit-maximizing a..
A similar helicopter was purchased 4 years ago at a cost of 140,000$. At an interest rate of 7% per year. Illustrate what would be the equivalent value today of that 140,000$ expenditure.
“If the assumptions of the median voter model hold, then using majority voting to determine the amount of a public good purchased by a city will lead to either an efficient level of the public good being provided or an under-provision of the public g..
Sales plays an important role in allowing a business to maintain long-term relationships with customers. Sales force structures can be critical in allowing companies to distribute their products to their customers effectively. Typical sales force str..
Which of the following terms describes a contract by which the value of the compensation depends on the measured performance of the employee?
he estimates a repair cost of $150, Develop a decision tree for this situation and determine Kuroff's optimal strategy.
1.nbspnbspnbspnbspnbspnbsp opportunity costs isa.nbspnbspnbspnbspnbspnbsp the money a business loses in a bad
Fully describe three (3) measures for assessing the effectiveness of a sales force as a whole. Explain why they are important, what they determine, and how sales managers apply these criteria to sales force performance evaluations.
The Townsville City Council is considering a proposal by the mayor to construct a recreational facility at a cost of $1.0 million. The facility is expected to have a useful life of 30 years during which operating costs are expected to average $100,00..
In 2008, he purchased $150,000 worth of jerseys from manufacturers, employed a receptionist for$40,000, purchased $20,000 worth of workplace insurance, and sold jerseys for a grand total of$280,000 in revenues.
Under which of the following circumstances is the principal-agent problem likely to be most serious. The government agency that controls the development and availability of new medical discoveries, including pharmaceutical drugs is
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