Blu-ray disc players, iPhones, and hybrid cars are generally considered to be ________ goods
A) service B) nondurable C) durable D) intermediate
C
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In the above figure, which of the following is TRUE regarding the movements from point A to B and from point C to D?
I) The movement from point A to B shows that the economy has chosen to produce 100 more jets. II) The movement from point C to D shows that the economy has chosen to produce 100 more jets. III) The movement from point A to B and from point C to D have the same opportunity cost. A) I and II B) I and III C) II and III D) I, II and III
Why is bundling of unrelated products, one of which is available in the competitive market, a losing strategy?
A variable factor of production:
A. plays no role in the law of diminishing marginal returns. B. is variable only in the short run. C. is fixed in the long run but variable in the short run. D. is variable in both the short run and the long run.
If an individual perfectly competitive firm charges a price ________ the industry equilibrium price while competitors charge the equilibrium price, the firm will not sell any of what it produces.
A. equal to B. above C. below D. More information is needed to answer the question.