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Author Question: Why does a sports car cost more than a mountain bike? A) because sports car manufacturers are ... (Read 106 times)

lracut11

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  • Posts: 536
on: Jun 29, 2018
Why does a sports car cost more than a mountain bike?
 
  A) because sports car manufacturers are greedier than mountain bike manufacturers
  B) because sports cars are priced higher in order to make them attractive as status symbols
  C) because more scarce resources are required to produce a sports car than to produce a mountain bike
  D) because mountain bike manufacturers know that their customers have relatively low incomes

Question 2

In oligopoly, any action by one firm to change price, output, or quality causes
 
  A) a reaction by other firms.
  B) no reaction from the other firms.
  C) a profit gain for the other firms.
  D) loss of market share by the acting firm.


Jevvish

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

A


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