In the IO perspective it is important to enter an industry with
a. Low supplier power
b. Low threat from substitutes
c. Low levels of rivalry between firms
d. All of the above
d
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If the real exchange rate is 5/4 pounds of Chilean beef per pound of U.S. beef, a pound of U.S. beef costs $2 and the nominal exchange rate is 500 Chilean pesos per dollar, then Chilean beef costs
a. 1,250 pesos per pound. b. 800 pesos per pound c. 250 pesos per pound. d. None of the above is correct.
A monopolist who has a horizontal ATC schedule and perfectly price discriminates
A. does not change the amount of consumer surplus that buyers had before the monopolist perfectly price discriminated. B. appropriates all consumer surplus as profit. C. leaves buyers a decreased but still positive amount of consumer surplus. D. increases the amount of consumer surplus that is lost to the buyers and not gained by the monopolist.