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Author Question: Why is market definition important for economic decision making? A) A firm is interested in ... (Read 75 times)

renzo156

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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


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Ddddd

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Reply #1 on: Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

D


renzo156

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Reply 2 on: Jul 1, 2018
Excellent

sarah_brady415

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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