Supporters of advertising claim that it:

a. makes demand for a firm's product more elastic.
b. is a barrier to entry.
c. promotes better quality products.
d. all of these.


c

Economics

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Positive technological change in the production of LCD televisions caused the price of LCD televisions to fall. Holding everything else constant, how would this affect the market for Blu-ray players (a complement to LCD televisions)?

A) The demand for Blu-ray players would increase and the equilibrium price of Blu-ray players would decrease. B) The demand for Blu-ray players would decrease because consumers could afford to buy fewer LCD televisions and Blu-ray players. C) The demand for Blu-ray players would increase and the equilibrium price of Blu-ray players would increase. D) The supply of Blu-ray players would increase and the equilibrium price of Blu-ray players would decrease.

Economics

Over time, countries grow in a fashion so that their production possibility frontiers always retain the same shape

Indicate whether the statement is true or false

Economics

In China, beef is considered a:

A) luxury. B) necessity. C) close substitute for chicken. D) none of the above.

Economics

The marginal-utility-to-price ratio tells us that if the price of a good falls, then, ceteris paribus

a. its marginal-utility-to-price ratio falls b. its marginal-utility-to-price ratio rises c. its marginal utility falls d. its marginal utility rises e. consumers buy less of the good

Economics