A company with a strong brand identity:
A. conveys to customers an implicit guarantee of a product's quality.
B. promises consistency to customers.
C. can perpetuate false perceptions of quality or product differences.
D. All of these statements are true.
D. All of these statements are true.
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If production involves increasing opportunity cost, then on the production possibilities frontier, moving to a point closer to the horizontal axis will increase the opportunity cost of
A. the good that is shown on the horizontal axis. B. the good that is shown on the vertical axis. C. both of the goods shown on the axes. D. neither of the goods shown on the axes.
"The difference between positive and normative statements is that a positive statement is always true while a normative statement might or might not be true." True or false? Explain
Indicate whether the statement is true or false
A firm has to choose between projects X and Y. Project X's internal rate of return is positive. If the cash flow of project Y is discounted at project X's internal rate of return, this firm will
A) choose project X if the net present value of project Y is positive. B) choose project X if the net present value of project Y is negative. C) choose project Y if the net present value of project Y is positive. D) choose project X regardless of the net present value of project Y.
In a long-run perfectly competitive equilibrium
A) P = MR = MC > ATC. B) P = MR > MC = ATC. C) P = MR = MC = ATC. D) P > MR > MC = ATC.