In the context of seeking export opportunities, which of the following is true of large firms?
A) They are intimidated by the complexities and mechanics of exporting to foreign countries.
B) They do not consider exporting until after their domestic market is saturated.
C) They systematically scan foreign markets to see where the opportunities lie.
D) They hesitate to seek export opportunities because they do not know how big the opportunities actually are.
E) They tend to be reactive about seeking opportunities for profitable exporting.
Answer: C) They systematically scan foreign markets to see where the opportunities lie.
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If the wage rate increases,
a. MPP will increase b. MLC will increase c. MRP will increase d. MPP will decrease e. TR will increase
A purely competitive firm will be willing to produce at a loss in the short run provided:
A. price exceeds marginal costs. B. the loss is no greater than its marginal costs. C. the loss is no greater than its total variable costs. D. the loss is no greater than its total fixed costs.