The number of U.S. households with access to the Internet has grown is growing rapidly. Compared to 50 years ago, one would predict that when considering a major purchase, people today will gather:
A. more information because the Internet has increased the cost of gathering information.
B. less information because the Internet has increased the benefit of gathering information.
C. more information because the Internet has lowered the cost of gathering information.
D. less information because the Internet has lowered the cost of gathering information.
Answer: C
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Assume that the above figure represents the domestic supply and demand for coffee.The domestic price with no trade is represented by $5.50 . The price with free trade is represented by $4.00
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a. True b. False