Why is market definition important for economic decision making?
A. Government regulators are interested in knowing the effect of mergers and acquisitions on competition and prices in a particular market.
B A firm will define its market in order to maximize revenue.
C. A firm is interested in knowing its actual and potential competitors.
D. both A and C
E. both A and B
D. both A and C
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If disposable income increases by $100 and saving increased by $25, ceteris paribus, we may conclude that
A) the marginal propensity to consume is 0.25. B) the marginal propensity to save is 0.25. C) $15 is autonomous consumption. D) a change in disposable income is induced by a change in consumption.
What is one reason for the high interest rates for home loans offered to those with low credit ratings?
A) Predatory lending practices B) Those with lower credit ratings faced a restricted supply of loans, ceteris paribus. C) Those with lower credit ratings typically demand greater loans, ceteris paribus. D) Government regulation