The market price for Chinese televisions recently changed from $200 per television set to $150 . _____, will benefit the most from this change in price
a. Lee Gadgets Co., a retail shop that sells Chinese televisions to consumers
b. Wayne Inc., a manufacturer of Chinese televisions
c. Harry, a consumer who buys a Chinese television set
d. Light Inc., a wholesaler who sells Chinese televisions to retailers
c
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To raise economic development, developing countries should
A) focus on producing service goods. B) produce goods that are capital intensive and not labor intensive. C) not focus on economic growth. D) focus on their comparative advantage.
Explain how each of the following events would affect the short-run aggregate supply curve
a. A decrease in the price level b. A decrease in what the price level is expected to be in the future c. A price level that is currently lower than expected d. An unexpected decrease in the price of an important raw material e. A decrease in the labor force
Block pricing
A) is a form of nonlinear price discrimination. B) is pricing where one price is charged for the first block of units purchased, and different prices for subsequent blocks. C) can be either use increasing or decreasing prices for blocks purchased. D) All of the above.
When we say the cost of living has gone up, we mean that, looking broadly over a range of goods and services:
A. a dollar buys less today than it used to buy. B. a dollar buys more today than it used to buy. C. a dollar buys the same today as it used to buy. D. our income has increased to match the cost of those goods.