Core competency occurs when:
a. a business focuses on a wide range of products rather than a few products.
b. a business focuses on one or few products rather than a wide range of products.
c. a business sells products at a high price

A decrease in the equilibrium price for a product will result

A) when there is a decrease in demand and a decrease in the number of firms producing the product. B) when there is an increase in supply and a decrease in demand for the product. C) when the quantity demanded for the product exceeds the quantity supplied. D) when there is a decrease in supply and a decrease in demand for the product.

The main function of a platform firm is to

A) deal with the government on behalf of sellers. B) link producers with consumers. C) perform collective bargaining with sellers on behalf of buyers. D) create entry barriers for an industry on behalf of existing firms.