Employment contracts that stipulate workers' wages, usually for a period of 1 to 3 years, are known as

Refer to Figure 14-1. Should Lexus lower its price in order to deter BMW's entry into the luxury hybrid automobile market?

A) Yes, it will drive BMW out of the market. B) No, it should keep the same price and work to capitalize on its brand loyalty. C) In terms of profit earned, it makes no difference whether Lexus lowers its price or not; in either case it will make $280 million profit if BMW enters. D) No, because BMW will enter the market regardless of Lexus' decision about its price.

The focus of firm decisions in the short run is primarily on

A) variable inputs. B) capital investment. C) plant size. D) economies of scale.