Which of the following describes bundling?
a. Selling multiple products as one product
b. Allowing customers to buy one product if they also buy another
c. Regulating the number of reduced-priced products
d. One firm buying the rights to sell the products of another firm
a. Selling multiple products as one product
Bundling involves selling multiple products as one product.
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On the long-run Phillips curve, the unemployment rate
A) equals the natural unemployment rate, but the inflation rate can be any value. B) decreases when the inflation rate increases. C) equals the natural unemployment rate, and the inflation rate equals the expected inflation rate. D) can be any value, but the inflation rate equals the expected inflation rate. E) and inflation rate can take any value.
Suppose when a car wash has 2 washing stations and 5 workers and is able to wash 100 cars per day. When it adds a third station, but no more workers, it is able to wash 150 cars per day. The marginal product of the third washing station is:
A. 100 cars per day. B. 150 cars per day. C. 5 cars per day. D. 50 cars per day.
A characteristic of monopolistic competition is that each firm
A) faces perfectly elastic demand. B) faces a downward-sloping demand curve. C) has a perfectly elastic supply. D) has a perfectly inelastic supply.
A credit card is a form of money.
Answer the following statement true (T) or false (F)