Jerome is an app developer. Which one of the following apps would allow him to capitalize on the market of consumers who are aware that they lack self-control but want to lessen their addiction to their smartphone?
a. a game that prompts users to pay a small fee only when they are about to beat an important level
b. a paid app that blocks access to certain other apps for a selected amount of time each day
c. a paid social media app that scans the content users are about to post for potential controversy
d. a free, ad-supported app that tells users which apps are not worth their time or money
b. a paid app that blocks access to certain other apps for a selected amount of time each day
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If a product is a normal good, an increase in your income will
A) increase demand for the product. B) decrease demand for the product. C) increase supply of the product. D) decrease supply of the product.
The hope of "Reaganomics"—that ending inflation will stimulate economic growth—is supported by the experience of 1945–49
Indicate whether the statement is true or false
Traditional models incorporate social and moral incentives into price.
Answer the following statement true (T) or false (F)
Refer to the above graph of a representative firm in monopolistic competition. What does line 1 represent?
A. Marginal cost B. Demand C. Marginal revenue D. Average total cost