A seller-provided product warranty is often offered to a consumer to:
A. get rid of inventory.
B. assure the latter that cheating will not occur.
C. to deal with shortages of products.
D. decrease the cost of doing business.
Answer: B
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What are the costs of capital mobility?
What will be an ideal response?
In equilibrium under monopolistic competition: a. firms always earn profits in the short run
b. firms always suffer losses in the short run. c. output is at the socially efficient level in the long run. d. marginal revenue is less than price.
Demand-pull inflation can develop when
A. Inventories shrink and consumers bid up prices. B. Undesired investment occurs. C. There is a surplus of resources and so wages are bid up by employers. D. There is a shortage of investment and investors bid up interest rates.
Education's benefit to society is an example of an externality.
Answer the following statement true (T) or false (F)