Suppose Alyssa likes oranges twice as much as apples, no matter how many apples or oranges she has. Her indifference curves for oranges and apples
a. are right angles
b. are straight lines.
c. slope upward.
d. cross one another at certain points.
b
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A monopolistically competitive firm has ________ power to set the price of its product because ________
A) no; there are no barriers to entry B) some; there are barriers to entry C) no; of product differentiation D) some; of product differentiation
Refer to the graph below. The movement from __________ to __________ is consistent with a successful advertising campaign that claims wool keeps you warm.
a. Point A; Point B
b. Point A; Point F
c. Point A; Point D
d. Point A; Point H
An increase in the average price level in a country will cause its domestic currency to depreciate
a. True b. False Indicate whether the statement is true or false
Which of the following pairs of goods would be most likely to be substitutes?
A) pasta and pasta sauce B) olive oil and vegetable oil C) chips and salsa D) tires and automobiles E) all of the above