Pretty Polly produces dresses for little girls. If Pretty Polly's advertising campaign becomes more effective, the demand for Pretty Polly's dresses will ________ and Pretty Polly's marginal benefit curve from advertising shifts to the ________.
A) decrease; left
B) decrease; right
C) increase; left
D) increase; right
D) increase; right
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The menu cost theory suggests that
A) wages and prices move freely and quickly. B) the economy is characterized only by perfect competition. C) there will be no unemployment. D) firms find frequent price changes to be costly.
Which of the following statement is true?
a. The demand for Cheerios is less elastic than the demand for cereal b. The demand for gas is more elastic in the short-run than in the long-r c. The demand for puma shoes is more elastic than the demand for shoes d. Products with many complements have a more elastic demand
The inflow of foreign investment into the U.S. economy reflects a high level of confidence in the United States.
Answer the following statement true (T) or false (F)
When free mobility of factors of production is added to a common market, the result is a customs union.
a. true b. false