According to the search model, the marginal cost of acquiring information about a product
a. is greater for a doctor than a nurse's aide
b. is the same for high-income consumers as for low-income consumers
c. is greater for expensive items than for cheap items
d. is greater for cheap items than for expensive items
e. diminishes as more information is acquired
A
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Which of the following futures contracts is available on the various commodity exchanges in the United States?
A) Treasury bond futures B) Investment-grade bonds C) Over-the-counter stocks D) U.S. savings bonds
If Mario's Pizza and Angelo's Pizza are pizza delivery companies in tacit collusion and Mario's Pizza launches a new advertising campaign that states that it will meet any competitor's price on a comparable pizza, Mario's Pizza might be tacitly signaling to Angelo's Pizza that they are willing to ________.
A) cut price is exactly half B) maintain current the price C) lower their price D) raise their price
If an economy is at equilibrium, it will also be operating at full employment
a. True b. False
Products can be differentiated
A) if the buyers are homogeneous and their number increases. B) by location and by brand name. C) only by brand name. D) none of the above