A change in all of the following variables will change the market demand for a product except
A) the price of the product.
B) population and demographics.
C) income.
D) tastes.
Answer: A
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Which of the following may yield economies of team production for Jitters Coffee Company, Inc?
A) dividing the process of packaging and shipping coffee into several specialized tasks, each performed by different people B) expanding into a larger coffee packaging plant C) expanding into the packaging and sale of tea and powdered chocolate D) all of the above
Mechanisms that manufacturers can use to deal with misaligned retailer incentives include
a. setting a maximum retail price b. providing an exclusive contract to a single retailer in a market c. preventing retailers from compensating sales staff for demonstrating the product d. eliminate manufacturer staff that was demonstrating the product in stores
A proof by contradiction can only be used to disprove a statement but not to prove a statement to be correct.
Answer the following statement true (T) or false (F)
If marginal benefit is less than marginal cost, output is inefficiently high
Indicate whether the statement is true or false