If the supply curve decreases while the demand curve remains unchanged, the equilibrium price would decrease
a. True
b. False
Indicate whether the statement is true or false
False
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The difference between economies of scale and economies of scope is:
a. economies of scale occur whenever inputs can be shared in the production of different products b. economies of scope occur whenever inputs can be shared in the production of different products c. economies of scale can occur when two or more products are produced d. economies of scope can occur when two or more products are produced e. both b and d
The basic approach in marginal analysis is to compare a policy's total benefits with its total costs
a. True b. False Indicate whether the statement is true or false
The "demonstration effect" created by advertising: a. manipulates consumer needs for trivial products
b. creates urges among consumers to buy products previously unknown to them. c. conveys misleading claims to the consumer. d. none of the above
An increase in disposable income would tend to shift aggregate demand right
a. True b. False Indicate whether the statement is true or false