Estimations of demand are used as input in this type of scenario:
A. understanding the demand for oil in order to impose a new oil import tax.
B. understanding automobile demand to decide whether to offer below-market-rate loans for new cars.
C. as input into a firm's decision-making process.
D. all of the above
D. all of the above
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Japan imposes a $300 per ton tariff on imported steel, raising the price charged in Japan to $1,000 . Using only this information, which of the following statements is correct?
a. The world price for steel is $300. b. The world price for steel is $700. c. The world price for steel is $1,000. d. The world price for steel is $1,300.
In the prisoner's dilemma setting for producing and stealing, a tax imposed on participants could end up changing the payoff matrix so that
A) one participant is better off, and one participant is worse off. B) both participants are worse off. C) both participants are better off. D) all of the above are possible