It is conceivable that the APC, APS, MPC, and MPS could simultaneously be
A) APC = 1.0; APS = 0; MPC = 1.0; MPS = 0.15. B) APC = 1.0; APS = 0.1; MPC = 0.8; MPS = 0.25.
C) APC = 1.3; APS = -0.3; MPC = 0.9; MPS = 0.1. D) APC = 0.8; APS = 0.2; MPC = 1.1; MPS = 0.1.
C
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The "demonstration effect" created by advertising: a. manipulates consumer needs for trivial products
b. creates urges among consumers to buy products previously unknown to them. c. conveys misleading claims to the consumer. d. none of the above
Recently, Lisa's wealth increased by $500 . If her wealth were to increase by another $500 in the near future, then her utility would increase, but not by as much as it increased with the recent increase to her wealth. Based on this information, Lisa's utility function
a. and marginal utility function are both upward sloping. b. and marginal utility function are both downward sloping. c. is upward sloping and her marginal utility function is downward sloping. d. is downward sloping and her marginal utility function is upward sloping.
Describe the three major broad categories of items that define the parts of a country's balance of payments.
What will be an ideal response?
A ________ industry has a relatively small number of firms that dominate a market.
A. monopolistically competitive B. Cournot C. contestable D. concentrated