The theory that firms will be slow to change their products' prices in response to changes in demand because there are costs to changing prices is called
A. cost-benefit theory.
B. menu cost theory.
C. transactions cost theory.
D. gift exchange theory.
Answer: B
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Use the following table to answer this question, which provides information on the production of a product that requires one variable input.InputTotal Product0015220332442550655758858956Marginal product is zero when the total product is
A. 58. B. 5. C. 0. D. 56.
Keynesian economics focused on
A. equally at curing recessions and inflations. B. mainly at curing inflations. C. mainly at curing recessions. D. curing hyperinflation.
An early piece of anti-trust legislation is the
A) Sherman Act. B) Mann Act. C) DIDMCA of 1980. D) Federal Reserve Act of 1913.
A decrease in the market clearing exchange value of the home nation's currency in terms of the currency of another nation is a home currency
A) appreciation. B) revaluation. C) depreciation. D) devaluation.