A celebrity endorsement for a product that provides no information for the good is useless to consumers.
Indicate whether the statement is true or false.
Ans: False.
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The figure above shows Ronald's budget line. He has a weekly income of $20, which he spends on hotdogs and hamburgers. Now Ronald's income decreases to $10 per week and the price of a hotdog doubles
Ronald's budget line becomes ________ and ________. A) flatter; shifts rightward B) flatter; does not shift C) steeper; shifts rightward D) steeper; shifts leftward
Just before class, Jim tells Stuart, "Stuart, you shouldn't skip class today because you have paid tuition to enroll in the class." Stuart ignores Jim's advice, and instead makes the decision of whether to attend based on the importance to his grade that he feels he'd be missing that day in class relative to his value of the extra time he could have to finish the video game he is playing. To an
economist, Stuart is: a. using marginal analysis. b. ignoring the total value of attending class. c. ignoring the concept of opportunity cost. d. irresponsible.
Porter's five forces model is trying to identify things that leads to a company's success
Indicate whether the statement is true or false
The flat part of the aggregate supply curve is the _____ range.
Fill in the blank(s) with the appropriate word(s).