Which of the following is considered investment?
A) Johnny buys a new car for his wife as an anniversary gift.
B) James purchases a new car to replace an old car in his cab business.
C) Maina purchases a new car for commuting to and from work.
D) Jane purchases a new car for commuting to and from school.
B
Economics
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It is difficult to explain how firms behave in an oligopoly because
a. they produce differentiated products b. there are many suppliers and few buyers c. they do not attempt to maximize profits d. each takes into account the behavior of other firms when making pricing decisions e. there are no barriers to entry or exit
Economics
When firms cooperate without an explicit agreement, they are engaging in
a. explicit collusion b. tacit collusion c. reverse collusion d. inclusion e. rent seeking
Economics