In a product line extension
A) a constant price elasticity of demand is assumed.
B) a firm introduces different products and lets buyers self-select themselves into different groups.
C) is able to identify different markets at very low costs.
D) demand is assumed to be elastic
B
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Use the following graph, where Sd and Dd are the domestic supply and demand for a product and Pc is the world price of that product, to answer the next question.
With a Pt?Pc per-unit tariff, the quantities sold by foreign and domestic producers respectively will be
A. y?w and w. B. z?x and x. C. x?v and x. D. z?w and x.
Which of the following is an example of intraindustry trade?
A) Trading peanut oil for tractors B) Trading crude oil for automobiles C) Trading Nokia smartphone for Apple iPhones D) Trading jeans for cotton
In-kind transfer programs such as Medicaid have increased more rapidly than other welfare programs over the last decade
a. True b. False
When OPEC raised the price of oil in 2000 (gasoline prices were $2 per gallon), it contributed to
a. demand-pull inflation b. cost-push inflation c. demand-push inflation d. cost-pull inflation e. cost-push deflation