Discuss how brand names may enhance the efficiency of markets in a less developed country
Recognizable brand names signal quality products. In the tourist- and business-services market, this signal can be critical at the early stages of development to ensure visitors have a quality experience when other information is unavailable or unreliable.
You might also like to view...
In the above figure, income is $8, the price of a soft drink is $1, and the initial price of a milkshake is $2. If the price of a milkshake decreases to $1, milkshakes are revealed to be
A) an inferior good. B) a normal good. C) less preferred than soft drinks. D) None of the above answers is correct.
The GDP deflator provides a measure of which of the following?
A) the ratio of GDP to the size of the population B) the ratio of GDP to the number of workers employed C) the ratio of nominal GDP to real GDP D) the price of a typical consumer's basket of goods E) real GDP divided by the aggregate price level
In the short run, a perfectly competitive firm's production decision aims to maximize profits at the production rate where P = MR = MC.
Answer the following statement true (T) or false (F)
Refer to the information provided in Figure 20.4 below to answer the question(s) that follow.
Figure 20.4Refer to Figure 20.4. The domestic price of a leather wallet is $20. With free trade the price of a leather wallet is $10 and after a tariff is imposed the price is $15. If the tariff is changed so that it is now ________, tariff revenue in this country will be zero.
A. $1 B. between $1 and $5 C. between $5 and $10 D. $10