The ratio of a country's exports to its total output (GNP or GDP)
A) is known as the index of openness.
B) provides a rough measure of the importance of international trade to that economy.
C) if calculated for the United States would be quite low.
D) All of the above.
D
Economics
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Suppose a firm can charge a relatively low price to try to compete actively with its rivals, or it can charge a relatively high, collusive price. If its strategy is to charge the low price regardless of the other firms' decisions, this low-price is the
firm's A) dependent strategy. B) independent strategy. C) dominant strategy. D) positive sum strategy.
Economics
Any price ______ will cause the firm to shut down production.
A. below the minimum of MC B. above the maximum of AC C. below the minimum of AC D. between MC and AC
Economics