The industrial organization economics perspective locates the source of competitive advantage at the
a. Individual firm level
b. Industry level
c. Both a and b
d. None of the above
b
Economics
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An inferior good is one for which an increase in income causes a(n)
a. increase in supply b. decrease in supply c. increase in demand d. decrease in demand
Economics
Suppose that the level of real GDP is $1,000,000 and the economy has 10,000 workers. Labor productivity is
a. $100 per worker b. $0.01 per worker c. $1,000,000 per worker d. $1,000 per worker e. Labor productivity cannot be computed with the information given
Economics