The case for product differentiation includes the assertion that
A. new products satisfy people with different preferences.
B. even products that do not satisfy a real demand survive.
C. standards of living rarely improve with product innovation.
D. it wastes society's scarce resources.
Answer: A
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Which graph in the above figure best represents the isoquants for lectures in microeconomics when units of capital per day is on the vertical axis and units of labor per day is on the horizontal axis? A) Graph A B) Graph B C) Graph C D) Graph D
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When real GDP grows more slowly than potential GDP
What will be an ideal response?