Which of the following is not a common characteristic of IACs?
a. Market-based economies.
b. Large stocks of technologically advanced capital.
c. Well-educated labor.
d. Low per capita energy consumption.
d
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A bank manager tells you that she doesn't create money. She just lends the money that people deposit. Explain why she's wrong
What will be an ideal response?
As compared to the basic Nash-Cournot equilibrium for duopolists where the firms face the same market demand curve and have identical costs, in the situation where the firms produce products which are viewed by consumers as not being identical,
A) there will generally be different prices charged by the two firms. B) there will generally be different quantities produced by the two firms. C) one or both of the firms may practice spurious differentiation. D) All of the above.