In the case of Intimate Bookshop v. Barnes & Noble, Intimate alleged that Barnes & Noble
a. was bundling products in order to reduce competition.
b. used technological advances to sell at lower prices.
c. was buying books at discriminatory prices.
d. had merged with other competitors in an effort to gain monopoly power.
b
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Which of the following would not shift the demand for resource Z? a. A decline in the price of resource Z
b. A decline in the price of substitute resource A. c. An increase in the productivity of resource Z. d. An increase in the price of the product resource Z is used to produce.
Bob's Baubles, Inc, sells its product for $3 each in a perfectly competitive market. If it increases its workforce from 1,000 to 1,001, its output goes from 615 to 625 per day. Its marginal revenue product for the 1,001st worker is: a. $3
b. $1, 845. c. $30. d. $3,003.