The type of advertising used for an experience good is
A. search advertising.
B. informational advertising.
C. persuasive advertising.
D. experience advertising.
Answer: C
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Which of the following are depository institutions?
A) The Federal Reserve Banks of New York and Chicago B) The U.S. Treasury and the IRS C) Banks and thrifts D) Investment banks and finance companies
Use the following graph to answer the next question.
What is the difference between the perfectly competitive equilibrium level of output and the pure monopoly equilibrium level of output?
A. 20 units B. 90 units C. 110 units D. 70 units
The marginal utility for a good is computed as
A. Total utility divided by quantity. B. Quantity divided by total utility. C. The change in total utility divided by the change in quantity. D. The change in quantity divided by total utility.
According to Classical economists, if the quantity of labor supplied exceeds the quantity demanded, there is a
A. shortage of labor and wages will fall. B. surplus of labor and wages will fall. C. surplus of labor and wages will rise. D. shortage of labor and wages will rise.