Question 11

Which of the following companies could expect to have the fewest competitors? (Select all that apply.)
  • Question 12

    The government decides to set a price ceiling on corn. The price ceiling is set 10% above the equilibrium price. What would be the result of this government action?
  • Question 13

    A technology company normally sees increased revenues for its cell phones when it raises
    prices. However, when the company released an updated version of the phone and charged a higher price, revenues fell. What MOST likely happened to the cell phone market?
  • Question 14

    An executive at an insurance company has developed a new method for determining monthly rates for drivers insured by the company. Using a regression analysis of different factors, the executive has come to the conclusion that the two most important factors are the value of the carand the number of miles the driver lives from the city. The partial regression output table provided by the data is as follows:

    Given this information, how much could a driver expect to pay per month for a car worth $45,000 located three miles from the city center?
  • Question 15

    Which of the following businesses is LEAST likely to locate its stores close to its competitors' stores?