Before entering, fixed cost associated with the industry in question are sunk costs for
A) the incumbent firm.
B) the outside firm.
C) both firms.
D) neither firm.
A
Economics
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Which of the following represents a function of money?
A) standard of deferred payment B) medium of exchange C) unit of accounting D) all of the above
Economics
An illiquid asset is one that is _______ but _______.
A. worth a lot in the future; can be sold today at its expected future price B. worth a lot in the future; can only be sold today at a low price C. worth a lot right now; not worth that much in the future, when it can be sold. D. worth a lot right now; cannot be sold until the future, when its value will be higher
Economics