Which of the following makes a firm's resources hard to imitate?
a. They flow from the firm's unique history
b. The link between resources and advantages is difficult to discern
c. Resources emanate from a socially complex organizational structure
d. All of the above
d
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Earning-sharing regulation involves
A) setting the monopoly's price equal to its average total cost. B) requiring that the monopoly share its profits with its customers if the profits rise above a certain level. C) setting a maximum price the monopoly may charge and maintaining it for many years. D) assuming a natural monopoly will not charge a higher than profit-maximizing price. E) setting the monopoly's price equal to its marginal cost.
Marginal revenue is the change in total revenue from selling one more unit of output
a. True b. False