Related to the Economics in Practice on page 316: According to the Economics in Practice, which of the following statements is true?

A. Even though tastes tend to differ across areas, we tend to see a smaller variety of products available from an online retailer than from an individual brick-and-mortar retailer.
B. Because tastes tend to be roughly the same across areas, we would expect to see a about the same variety of products available from an online retailer as from an individual brick-and-mortar retailer.
C. Because tastes tend to differ across areas, we would expect to see a smaller variety of products available from an online retailer than from an individual brick-and-mortar retailer.
D. Because tastes tend to differ across areas, we would expect to see a wider variety of products available from an online retailer than from an individual brick-and-mortar retailer.


Answer: D

Economics

You might also like to view...

What is meant by the natural rate of unemployment?

What will be an ideal response?

Economics

If the marginal utility Ida Mae receives from eating chicken wings is negative then

A) her total utility from eating chicken wings has fallen. B) Ida Mae definitely does not like chicken wings. C) her total utility has risen, but by less from the last chicken wing than from the next to last chicken wing. D) her total utility from eating chicken wings is negative as well.

Economics

Double markup problems arise because

a. upstream firms have no market power b. downstream firms have no market power c. upstream and downstream products are unrelated in demand d. upstream and downstream firm's pricing decisions tend to decrease the demand for the other product

Economics

If the interest rate rises, an individual could choose to

a. increase consumption when young. b. increase consumption when old. c. decrease consumption when young. d. Any of the above could be correct.

Economics