In which of the following product markets are we likely to observe the largest amount of advertising?
a. markets with highly differentiated products
b. perfectly competitive markets
c. markets in which industrial products are sold
d. markets in which there is very little difference between different firms' products
a
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The figure above shows the demand for fruit snacks. Which movement reflects a decrease in demand?
A) from point a to point e B) from point a to point b C) from point a to point c D) from point a to point d
The actual price level is assumed to be constant along a given short-run aggregate supply curve.
a. true b. false
As job opportunities for women and the wages those jobs pay have increased, the opportunity cost of doing housework has ________, so many families have chosen to hire specialists in households chores, such as cleaning services and lawn care services,
because the cost of these specialists is ________ than the cost of the wife (or husband) performing those chores. A) increased; higher B) increased; lower C) decreased; higher D) decreased; lower
A two firm oligopoly is known as a
A. cartel. B. monopoly. C. duopoly. D. contestable market.