When a firm divests itself of an unrelated business to focus on it core competency, the firm is
A) using economies of scope to cut costs.
B) downsizing.
C) outsourcing.
D) market sharing.
C
Economics
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What's another word for "marginal"?
A) Phenomenal B) Additional C) Sentimental D) Detrimental E) Magical
Economics
Suppose the current price and quantity of widgets is p = $50 and Q = 125
The demand for widgets is log-linear and the price elasticity of demand is E = -2. The supply of widgets is perfectly elastic. a. Derive the equations for the demand and supply of widgets. b. What would be the effect on the equilibrium price and quantity if demand were to increase by 500 widgets?
Economics