Homework Answers
The correct answer is option D) red - blue oceans. Price pressure is more in red oceans firms as there is more competition to grab a larger share of product or service demand. In blue oceans, there is less competition.
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Question 14 of 25 Price pressure is more likely in as opposed to A) markets with...
Question 23 of 25 A diner offering extremely long french fries is more likely than a...
Question 23 of 25 A diner offering extremely long french fries is more likely than a diner offering ordinary french fries to be operating in a blue ocean market. O True O False
Are predictions using the supply-and-demand model likely to be reliable in each of the following markets?...
Are predictions using the supply-and-demand model likely to be reliable in each of the following markets? Why or why not? Predictions using the supply-and-demand model for the apple market are likely A. not reliable because consumers have full information about apple prices. B. reliable because apple farmers sell differentiated products. C. reliable because the market for apples has many farmers and consumers. D. not reliable because apples have no transaction costs E. not reliable because the cost of trading apples...
Question 11 of 25 A diner offering fluffy foamy omelettes is more likely than a diner...
Question 11 of 25 A diner offering fluffy foamy omelettes is more likely than a diner offering ordinary omelettes to be operating in a red ocean diner market. O True O False
Question 16 of 25 In seeking to attract students from out of state, CCSU is most...
Question 16 of 25 In seeking to attract students from out of state, CCSU is most likely competing in a ocean against other CSU universities. O A) red O B) blue O C) green O D) All of the above
1. Which of the following correctly summarizes the strategy used by firms that employ third-degree price...
1. Which of the following correctly summarizes the strategy used by firms that employ third-degree price discrimination? Group of answer choices a.The firm’s marginal revenue will be lower in the market with the more elastic demand. b.The firm sets the price higher in the market with the more elastic demand. c.The firm sets the price lower in the market with the more inelastic demand. d.The firm’s marginal revenue will be higher in the market with the more elastic demand. e.None...
QUESTION 9 Economists generally favor free trade because it allows consumers to receive more goods and...
QUESTION 9 Economists generally favor free trade because it allows consumers to receive more goods and at a lower cost it protects domestic markets it may cause some job loss none of the above QUESTION 10 A government mandated price that is above the equilibrium price is called a price floor a price ceiling O a price wall O a price toilet QUESTION 11 In the supply/demand framework, a price that is below the equilibrium price will create a surplus...
Question 17 (1 point) Price discrimination is more common for firms selling services than for manufacturing...
Question 17 (1 point) Price discrimination is more common for firms selling services than for manufacturing firms because monopoly is more common in producing services than in producing manufactured goods. O price elasticities differ among consumers of services more than among customers of manufactured goods. it is easier to prevent resale of a service than of a manufactured product. firms selling services are more likely to have constant marginal cost curves. Question 18 (1 point) Assume that a monopolist produces...
QUESTION 6 Industry is a perfectly competitive industry. Assume that as a result of changes in...
QUESTION 6 Industry is a perfectly competitive industry. Assume that as a result of changes in other markets there is a twenty percent increase in the price of variable inputs used by firms in industry Y. After all adjustments have taken place, we would expect the equilibrium price in industry Yto: increase and the number of firms to increase. decrease and the number of firms to increase. increase and the number of firms to decrease. decrease and the number of...
Microeconomics question 1. Price elasticity of supply and price elasticity of demand are likely to be...
Microeconomics question 1. Price elasticity of supply and price elasticity of demand are likely to be __________ in the __________ than in the __________. Select one: a. higher; short run; long run b. lower; long run; short run c. higher; long run; short run d. lower; past; future e. higher; past; future 2. If demand for a product is perfectly inelastic, a tax of $1 per unit imposed on sellers will Select one: a. not affect the market price of...
14% e 25% Question 9 2 pts Tom Brady Inc.'s stock is currently selling at $40...
14% e 25% Question 9 2 pts Tom Brady Inc.'s stock is currently selling at $40 per share. The company's expected future price at this time is $45 per share. What is the company's expected future return at the current time? O 11.1% O 7.4% O 12.5% O 8% 12.5% 8% 3 pts Question 10 Tom Brady Inc. acquires Joe Burrow Enterprise a few days later.Joe Burrow's stocks are highly sensitive to oil price movements, and as a result, Tom...
Question 23 of 25 A diner offering extremely long french fries is more likely than a diner offering ordinary french fries to be operating in a blue ocean market. O True O False
Are predictions using the supply-and-demand model likely to be reliable in each of the following markets? Why or why not? Predictions using the supply-and-demand model for the apple market are likely A. not reliable because consumers have full information about apple prices. B. reliable because apple farmers sell differentiated products. C. reliable because the market for apples has many farmers and consumers. D. not reliable because apples have no transaction costs E. not reliable because the cost of trading apples...
Question 11 of 25 A diner offering fluffy foamy omelettes is more likely than a diner offering ordinary omelettes to be operating in a red ocean diner market. O True O False
Question 16 of 25 In seeking to attract students from out of state, CCSU is most likely competing in a ocean against other CSU universities. O A) red O B) blue O C) green O D) All of the above
QUESTION 9 Economists generally favor free trade because it allows consumers to receive more goods and at a lower cost it protects domestic markets it may cause some job loss none of the above QUESTION 10 A government mandated price that is above the equilibrium price is called a price floor a price ceiling O a price wall O a price toilet QUESTION 11 In the supply/demand framework, a price that is below the equilibrium price will create a surplus...
Question 17 (1 point) Price discrimination is more common for firms selling services than for manufacturing firms because monopoly is more common in producing services than in producing manufactured goods. O price elasticities differ among consumers of services more than among customers of manufactured goods. it is easier to prevent resale of a service than of a manufactured product. firms selling services are more likely to have constant marginal cost curves. Question 18 (1 point) Assume that a monopolist produces...
QUESTION 6 Industry is a perfectly competitive industry. Assume that as a result of changes in other markets there is a twenty percent increase in the price of variable inputs used by firms in industry Y. After all adjustments have taken place, we would expect the equilibrium price in industry Yto: increase and the number of firms to increase. decrease and the number of firms to increase. increase and the number of firms to decrease. decrease and the number of...
14% e 25% Question 9 2 pts Tom Brady Inc.'s stock is currently selling at $40 per share. The company's expected future price at this time is $45 per share. What is the company's expected future return at the current time? O 11.1% O 7.4% O 12.5% O 8% 12.5% 8% 3 pts Question 10 Tom Brady Inc. acquires Joe Burrow Enterprise a few days later.Joe Burrow's stocks are highly sensitive to oil price movements, and as a result, Tom...
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