All of the following are characteristics of monopolistic competition EXCEPT
A) a few firms dominate the industry.
B) product differentiation.
C) many firms in the industry.
D) advertising.
A
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Coordinating policies when two countries have ________ exchange rates can increase the effect of ________
A) fixed; inflationary policy bias B) floating; inflationary policy bias C) fixed; the locomotive effect D) floating; beggar-thy-neighbor effect
Peter was recently hired as a salesman for a national consulting firm. His job involves spending a significant portion of his time out of the office visiting prospects and attending conferences. Which of the following is a strategy the consulting firm may employ to discourage Peter from shirking his responsibilities?
a. Tell Peter that the shareholders want to earn a large profit this year. b. Pay Peter commissions on what he sells after the work has been completed. c. Allow Peter to set his own schedule and work from home frequently. d. Pay Peter a lower wage than he would earn in a similar job at another firm.