This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Why is market definition important for economic decision making? A) A firm is interested in ... (Read 79 times)

renzo156

  • Hero Member
  • *****
  • Posts: 526
on: Jul 1, 2018
Why is market definition important for economic decision making?
 
  A) A firm is interested in knowing its actual and potential competitors.
  B) A firm will define its market in order to maximize revenue.
  C) Government regulators are interested in knowing the effect of mergers and acquisitions on competition and prices in a particular market.
  D) both A and C
  E) both A and B

Question 2

Based on Figure 3.2, it can be inferred that:
 
  A) Alvin does not consider good X as good.
  B) Alvin will never purchase any of good Y.
  C) Alvin regards good X and good Y as perfect substitutes.
  D) Alvin regards good X and good Y as perfect complements.
  E) none of the above


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Ddddd

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

D


renzo156

  • Member
  • Posts: 526
Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

kishoreddi

  • Member
  • Posts: 329
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Prostaglandins were first isolated from human semen in Sweden in the 1930s. They were so named because the researcher thought that they came from the prostate gland. In fact, prostaglandins exist and are synthesized in almost every cell of the body.

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

Did you know?

Sperm cells are so tiny that 400 to 500 million (400,000,000–500,000,000) of them fit onto 1 tsp.

Did you know?

In 1835 it was discovered that a disease of silkworms known as muscardine could be transferred from one silkworm to another, and was caused by a fungus.

Did you know?

The first-known contraceptive was crocodile dung, used in Egypt in 2000 BC. Condoms were also reportedly used, made of animal bladders or intestines.

Figure 7.1 shows the rapid decline in the trust of Americans in government since the 1960s. This de Figure 7.1 shows the rapid decline in the trust of Americans in government since the 1960s. This de
Increasing access to care for teen mothers is important because they have a higher rate of pregnancy ... Increasing access to care for teen mothers is important because they have a higher rate of pregnancy ...
The hazmat training pyramid. It is important to train from the ground up, starting with a firm grasp ... The hazmat training pyramid. It is important to train from the ground up, starting with a firm grasp ...
Population Density versus Economic Growth Population Density versus Economic Growth
Stock Market Question Stock Market Question
economic question economic question
Video: Introduction to Sleep Apnea

For a complete list of videos, visit our video library