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
You might also like to view...
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.
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
In China, beef is considered a:
A) luxury. B) necessity. C) close substitute for chicken. D) none of the above.
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