Regarding price leadership, which of the following is NOT true?
a. one firm may establish itself as the dominant firm
b. the dominant firm is frequently a larger size or has lower cost structure
c. Price leadership is a model of price-output determination
d. Once established, a barometric price leader will not change
e. price leadership is a pricing strategy followed in many oligopolistic industries
d
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Lucy works as a college instructor for a fixed annual salary of $30,000. She is considering quitting this job and becoming a real estate broker
Lucy believes that as a realtor she has a 40 percent chance to make $60,000 per year and a 60 percent chance to make $25,000 a year. The figure above shows Lucy's total utility of wealth curve (U). Lucy will decide to ________ and she will definitely make this choice because it gives her a greater expected ________. A) keep her current job; income B) keep her current job; utility C) quit her job and become a realtor; utility D) quit her job and become a realtor; income
Regarding money, what matters most?
A) that is exists. B) that its quantity is known. C) that coins are available. D) that its quantity is stable.