Supplier power tends to be low when
a. Suppliers are less concentrated
b. Inputs provided by the supplier are not vital
c. Inputs are homogenous
d. All the above
d
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Which of the following would decrease the price of packaged hot dogs?
A. A decrease in the price of hot dog buns, a complement to packaged hot dogs. B. An increase in the price of hamburger meat, a substitute for packaged hot dogs. C. A technological advance that lowers the cost of producing packaged hot dogs. D. An increase in the price of beef used to produce packaged hot dogs.
According to the misperceptions theory, when the price level falls below the expected price level,
A. the economy's SRAS curve shifts up. B. the economy moves along its AD curve. C. the economy moves along its SRAS curve. D. the economy moves along its LRAS curve.