Vertical contracts that aim to decrease retailer prices typically
a. Benefits the consumers, manufacturers and retailers
b. Hurts all the manufacturers, consumers and retailers
c. Benefit the manufacturer, hurt the consumer and retailer
d. Benefit the retailer, hurt the manufacturer and consumer
a
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Consider a Wal-Mart supercenter and a 7-Eleven store. In the long run,
A) Wal-Mart or 7-Eleven may have economies of scale depending on how many customers are served. B) Wal-Mart will definitely have lower average costs because supercenters serve many more customers. C) The 7-Eleven store will definitely have lower average costs because their small stores are cheaper to build. D) Wal-Mart's average total cost will decline faster than the 7-Eleven store and experience diseconomies of scale. E) The 7-Eleven store's average total cost will be lower than Wal-Mart's and always experience economies of scale.
Which of the following is true? Partial equilibrium analysis will
A) overstate the impact of a tax for both substitutes and complements. B) understate the impact of a tax for both substitutes and complements. C) understate the impact of a tax for complements and overstate the impact for substitutes. D) understate the impact of a tax for substitutes and overstate the impact for complements.