Retailers do not find it profitable to engage in promotional activities because
a. They cannot reap the full benefits of the promotion
b. They do not have to share the benefits of the promotion with the manufacturer
c. They are unaware of competing retailers' ability to "free ride" on their efforts
d. All of the above
a
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Evaluate the following statement. "If marginal product is falling it will bring down the average product."
What will be an ideal response?
Economists use the term "utility" to refer to the usefulness of a good or service, and so consequently aesthetic products like art, music, and vacations have no utility
Indicate whether the statement is true or false
The term market structure refers to the amount of
A.) market power each firm in the industry has. B.) method used to produce the industry's products. C.) total sales of a particular industry. D.) way in which firms in the industry are legally organized.
If your real income rises but your nominal income falls, then you benefit from deflation.
Answer the following statement true (T) or false (F)