The act of offering two or more products for sale as a set is called
A. bundling.
B. tie-in sales.
C. branding.
D. versioning.
Answer: A
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In a market economy, opportunity costs are always synonymous with explicit monetary costs.
Answer the following statement true (T) or false (F)
Kate and Alice are small-town ready-mix concrete duopolists. The market demand function is Qd = 20,000 - 200P where P is the price of a cubic yard of concrete and Qd is the number of cubic yards demanded per year. Marginal cost is $80 per cubic yard. Suppose Kate enters the market first and chooses her output before Alice. What is Kate's profit maximizing output?
A. 2,000 B. 1,333.34 C. 1,000 D. 4,000
In some markets for used goods:
A. the seller has more information than the buyer about the quality of the good. B. the buyer has more information than the seller about the quality of the good. C. low-quality used goods will be underpriced. D. the quality of used goods sold in the market will typically rise over time.
A tie-in sale is when two firms merge together and are essentially tied together.
Answer the following statement true (T) or false (F)