If Happy Campers has a market share of 70 percent and Campers R Us has a market share of 5 percent, according to Chinese law, Happy Campers ________ be considered a dominant firm and Campers R Us ________ be considered a dominant firm.
A) would; would
B) would not; would
C) would; would not
D) would not; would not
A) would; would
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To maintain a pegged rate, a nation faces a trilemma and must also:
A) generate extra export revenues. B) watch carefully to ensure imports and exports are equal. C) adjust its interest rates and money supply to ensure the home interest rate is equal to the foreign interest rate to prevent pressure on the exchange rate. D) restrict foreign capital inflows and domestic capital outflows.
Which of the following is not a characteristic of the long-run equilibrium in perfect competition
a. Each firm is producing an efficient quantity. b. Price equals ATC for each firm. c. Each firm earns a zero economic profit. d. Each firm produces at the minimum point on the MC curve.