If firms in a competitive market are not? identical, then an increase in cost for all firms will
A. shift marginal cost to the right.
B. push the most efficient firms out of the market.
C. push the most inefficient firms out of the market.
D. Need more information.
Answer: C. Push the most inefficient firms out of the market.
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Answer the following statement(s) true (T) or false (F)
1. The spot market is the market for goods that are to be delivered at a particular location, or “at that spot”. 2. There are three types of decision makers in a market economy, consumers, firms and resource suppliers. 3. Tastes and preferences are relevant to individual choices for consumption but not relevant to choices for supplying labor. 4. An individual's indifference curves between labor and consumption are upward sloping because both are desired. 5. Higher wages always cause a worker to increase the quantity of labor supplied.
The basis for designing an effective export strategy most likely begins with ________.
A) identifying and developing the firm's core competencies B) hiring local personnel in target markets to build the business C) enlisting the support of an export management company D) simultaneously targeting a large number of foreign markets