The De Beers Company blocked competition
A) by controlling the supply of most of the world's high-quality bauxite, the mineral used to produce aluminum.
B) in the diamond market by controlling the output of most of the world's diamond mines.
C) in the market for fresh and frozen cranberries because it controls about 80 percent of the cranberry crop.
D) because it has lower production costs than other department stores due to economies of scale.
B
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The theory of efficient markets suggests that the steep decline the value of stocks traded on the NASDAQ was due to
a. a speculative bubble. b. a response to new information about firms' expected future profitability.. c. a natural cycle in technology stock prices evidenced by charts of previous prices trends. d. moral hazard.
According to consumer choice theory, rational behavior requires that consumers compare the marginal utility of each purchase with its price.
Answer the following statement true (T) or false (F)