If someone has a comparative advantage in growing pineapples,
A. pineapples are the only product she can grow.
B. she can grow more pineapples using the same resources than other pineapple growers.
C. she can grow pineapples at a lower opportunity cost than other pineapple growers.
D. she also has an absolute advantage in growing pineapples.
Answer: C
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Monopolistic competitors advertise because
A) they have downward sloping demand curves. B) the demand curves they face are very elastic. C) they produce goods that can be differentiated from the goods of other firms in the industry. D) they can earn long-run profits if they advertise.
Two groups of consumers have different valuations of the two monopoly products you as a monopolist have bundled together. If their valuations for the two products are proportional, i.e. Group A's valuation of X is $10 and Y is $15, while Group B's valuation of X is $20 and Y is $30, bundling the products will be more profitable for the monopolist
Indicate whether the statement is true or false
China is the largest spender on research and development in the world (in total dollars or dollar equivalents).
Answer the following statement true (T) or false (F)
Putting money into mental categories can:
A. cause people to take risks they wouldn't otherwise take. B. help people organize their expenditures. C. cause irrational behavior. D. All of these are true.